FHA Loan 1-4 Units

This is a standard FHA government insured loan. This is an ideal loan for first time buyers wishing to purchase with a minimal down payment. The credit and asset requirements are more flexible than conventional loans.

Credit score: 620 minimum
Property type: 1-4 units, Condo, PUD
Occupancy: Primary residence
Down Payment: 3.5% minimum
Loan to Value: 96.5%   Max. CLTV: 100%
Gift Funds Allowed. No minimum buyer contribution required.
Closing cost: Seller and/or lender can pay up to 6%
Debt Ratio: 43%   with compensating factors up to 46/56%


Additional Notes:

  • Condos must be FHA approved
  • Lender-paid closing cost (closing cost assistance program available)
  • Unpermitted additions will not be given any value
  • Bankruptcy 2 yrs, Foreclosure 3 yrs ( standard rule ), shortside 3 yrs ( standard )
  • First time buyer not required. Must be primary residence
  • Streamline Refinance – No Appraisal, No income Quality
  • No credit score co-borrower allowed * Cash out Refinance up to 85% CTV

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

All program are subject to change at anytime without any further notice