Conventional 5% HB 1 Unit


This loan is ideal for well qualified buyers. The funds, credit, and income requirement are stricter than government loans. This is also a good alternative for condos that are not FHA approved.

Credit score: 620 minimum
Property type: SFR, Condo, PUD
Occupancy: Primary residence
Down Payment: 5% minimum
Loan to Value: 95%     Max. CLTV: 95%
Gift Funds Allowed
Closing cost: Seller and/or lender can pay up to 3%
Debt Ratio: 45%


Additional Notes:

  • Condos must be Fannie Mae approved.
  • Lender-paid closing cost available
  • Impounds optional with 10% Down or more
  • Unpermitted additions/conversation on case by case basis
  • Bankruptcy 4 yrs, Foreclosure 7 yrs, Short Sale 4 yrs.
  • First time buyer not required. Must be primary residence
  • Mortgage Insurance on loans with less than 20% Down
  • Mortgage PITIA reserves may be required
  • Lender-paid mortgage insurance available
  • Flips usually one appraisal. No home inspection required.

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