Scribd Logo
Upload

Welcome to Scribd!

  • 17 views

    Down Payment Assistance

    Uploaded by

    Jim Hamilton
    This document describes a downpayment assistance program that provides up to 99.5% financing for home purchases. It combines an FHA fixed-rate mortgage with a second, low-interest mortgage to cover downpayment and closing costs. Borrowers must use the home as their primary residence, have incomes below county limits, and meet FHA underwriting guidelines, with qualifying credit scores determining allowable debt-to-income ratios. The program aims to help homebuyers obtain a mortgage with a downpayment as low as 0.5% of the purchase price.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Down Payment Assistance

    Uploaded by

    Jim Hamilton
    17 views1 page
    This document describes a downpayment assistance program that provides up to 99.5% financing for home purchases. It combines an FHA fixed-rate mortgage with a second, low-interest mortgage to cover downpayment and closing costs. Borrowers must use the home as their primary residence, have incomes below county limits, and meet FHA underwriting guidelines, with qualifying credit scores determining allowable debt-to-income ratios. The program aims to help homebuyers obtain a mortgage with a downpayment as low as 0.5% of the purchase price.

    Original Description:

    Great new financing program for homefinders

    Original Title

    Down Payment Assistance[1]

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document describes a downpayment assistance program that provides up to 99.5% financing for home purchases. It combines an FHA fixed-rate mortgage with a second, low-interest mortgage to cover downpayment and closing costs. Borrowers must use the home as their primary residence, have incomes below county limits, and meet FHA underwriting guidelines, with qualifying credit scores determining allowable debt-to-income ratios. The program aims to help homebuyers obtain a mortgage with a downpayment as low as 0.5% of the purchase price.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    17 views1 page

    Down Payment Assistance

    Uploaded by

    Jim Hamilton
    This document describes a downpayment assistance program that provides up to 99.5% financing for home purchases. It combines an FHA fixed-rate mortgage with a second, low-interest mortgage to cover downpayment and closing costs. Borrowers must use the home as their primary residence, have incomes below county limits, and meet FHA underwriting guidelines, with qualifying credit scores determining allowable debt-to-income ratios. The program aims to help homebuyers obtain a mortgage with a downpayment as low as 0.5% of the purchase price.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    DOWNPAYMENT ASSISTANCE

    PROGRAM!

    • The Program combines a 30-year fixed interest rate FHA Mortgage Loan with downpayment and/
    or closing cost assistance in the form of a low and fixed interest rate Second Mortgage.

    • Total financing up to 99.5% of the purchase price is possible. That means the downpayment from
    the homebuyerʼs own funds could be as little as 1/2 of a percent of the purchase price.

    BORROWER ELIGIBILITY
    • Occupy the residence as their primary residence; non-occupying co-borrowers are
    not allowed.
    • Borrowers income can not exceed CHF income limits for the county in which the
    property is located. (Sacramento, El Dorado, Placer County $87,720)
    • Meet all required FHA underwriting criteria.
    • Qualifing Credit Scores will determine Debt to Income Ratios.

    Paul J. Hernandez
    Mortgage Advisor
    MLO# 307375
    (916) 717-4737 Cell

    Equal Housing Lender CA-NMLS 81395 A Division of Pinnacle Capital Mortgage

    You might also like