Conventional 10% HB 1 Unit

High Balance

This program is for well qualified buyers. The loan amounts are higher than standard limits. The funds, credit, and income requirements become stricter due to increased risk with higher loan amounts.

Credit score: 620 minimum
Property type: SFR, Condo, PUD
Occupancy: Primary residence
Down Payment: 10% minimum
Loan to Value: 90%     Max. CLTV: 90%
Gift Funds Allowed. Minimum buyer contribution 5%
Closing cost: Seller and/or lender can pay up to 6%
Debt Ratio: 45%


Additional Notes:

  • 620 min. Fico score
  • Condos must be Fannie Mae approved.
  • Impounds optional with 10% Down or more
  • Unpermitted additions will not be given any value
  • Bankruptcy 4 yrs, Foreclosure 7 yrs, Short Sale 4 yrs.
  • First time buyer not required. Must be primary residence
  • Mortgage insurance with less than 20% down
  • Mortgage reserves may be required
  • Lender-Paid Mortgage Insurance available
  • Flips usually one appraisal. No home inspection required

This page contains program highlights only. See sidebar links for further information and details.

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