Why FHA Program?
Our FHA loans could provide from 96.5% up to 125% of the home value with a very minimal down-payment – less than or equal to 3.5% of the purchase price with the lowest interest rate. Low to moderate income first-time homebuyers are taking advantage to buy their own homes through this program. Home ownership is being made more accessible to a lot of people who can not put up bigger amounts of down-payments. Down-payments can be sourced as a gift, a grant or as a 2nd loan adding more flexibility to meet that requirements.
FHA Loan Program Guidelines
640 + (Prime)
(Refinance cash out): 85%
(Streamline): up to 125%
30 year / 15 year / 5 year / 3 year
Owner Occupied only
45 / 55
Maximum Loan Amount:
1 Unit: Lesser of $ 417,000 or maximum county limit
2 Units: Lesser of $ 533,850 or maximum county limit
3 Units: Lesser of $ 645,300 or maximum county limit
4 Units: Lesser of $ 801,950 or maximum county limit
Allowed – Requires 2 Appraisals
Down Payment Assistant:
Allowed – CHDAP and ACCESS
Attached / Detached SFR
HUD Approved Condos
2 – 4 Units
Maximum number or Properties financed:
2 – Inclusive of Subject Property
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