‣ Down Payment: 3.5%
‣ Credit Scores: 580
‣ Loan Type: FHA FIXED or ARM
‣ First Time Homebuyer: YES
‣ 3-year of claiming no ownership interest
‣ Non-occupant Cosigner: YES*
‣ Student Loan Calculation: 0.05% Of total debt amount or payment reported on the credit report.
‣ Debt to Income: 47%-57%
‣ Own Other Properties: YES
‣ Derogatory Credit:
‣ Income Limits: N/A
‣ Gift Funds: YES*
‣ Max Seller Concession: 6% only to be credited to closing cost can’t cover Down payment.
‣ Close Times: 15-30 days
Allowed but down payment must be 25% or more.
Allowed from an acceptable gift donor.
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