Welcome College Grad's and Congratulations on your achievements
At Lenders Retail Center, Althas, we are partnering with lenders that want to help our college grads to become home owners.
2% DOWN PAYMENT ASSISTANCE - FHA Loan
The down payment assistance program works with an FHA Loan. An FHA loan requires a 3.5% minimum down payment from the borrowers, which can be a gift. The Down Payment Assistance program will credit borrowers 2% of the required down payment and the borrower will only need 1.5% towards the down payment in the purchase of their home.
|FHA Loan Amount (96.5%)||$241,250.00|
|FHA Down Payment Required from Buyer||$8,750.00|
|Credit from Down Payment Assistance Program -SAVINGS-||$5,000.00|
|Down Payment From Borrower needed to buy||$3,750.00|
General Requirements for an FHA Home Loan:
- FHA Loan Limits
- 3.5% Down Payment (it can be a gift)
- 580 Minimum Credit Score for a 96.5% Loan
- Medical Collections do not count
- Charge Offs do not count
- 2 year income supported by tax returns, w2 - 1099, and paystubs
- 2 year residence history
- Work Permit allowed
Not all applicants may qualify for the Down Payment Assistance Program. Call us for restrictions of visit HUD.com to learn more about FHA loan requirements. The Down Payment Assistance Program applies only on FHA loans, 30 year fixed rates. For Qualification requirements please contact an Althas Team Member. For Full disclosures please visit: www.MortgageXP.com
If you believe you do not qualify to purchase your Florida home with an FHA Home Loan, no worries! We have several programs to help you obtain the financing you need. Conventional Home Loans, Jumbo Loans, USDA Home Loans, Stated Income mortgage financing, 1 year tax return only - for 1099 only, and many other mortgage financing programs including residential and commercial.
For more information please call today (239) 333-9729
or complete a No Obligation - Free Application visiting www.MortgageXP.com