FHA Info
- non-occupying co-borrowers allowed- parents can purchase the property for their children
- Great first time homebuyer program but you don’t have to be a first time homebuyer
- Sellers contributions up to 6% of the buyer’s costs to close- great for buyers that don’t have much money for closing costs
- 100% gift funds allowed
- 3.5% minimum down payment
- No minimum reserves required
- 620 min FICO
- Citizenship not required; permanent & non-permanent resident aliens
- Cash-Out Refinances to 85% LTV
- Rate & Term refinances to 97.75%LTV
- Fixed Rate assumable Loans
- 10, 15, 20, 25, or 30 year terms
- ARMs available with 30 year terms
- 3/1, 5/1, 7/1, or 10/1
Can lend up to $679,500 in San Diego County
