FHA Loan

    Minimum down payment

• 3.5%

 Maximum mortgage amount

•Depends on area
 

 Credit score requirements

• See loan officer for latest FICO® Score or requirements
 

Qualifying ratios

• Per automated underwriting

 PMI

• Up-front mortgage insurance premium 1.75% of the loan amount
 

 Seller concessions

• 6% seller concessions

· 3.5%
 

Maximum mortgage amount

• Depends on area
 

Credit score requirements

• See loan officer for latest FICO® Score Requirements

Qualifying ratios

• Per automated underwriting
 

PMI

• Up-front mortgage insurance premium 1.75% of the loan amount
 

 Seller concessions

• 6% seller concessions
 

 Gift funds

• All types of gift funds allowed

Miscellaneous

• Second homes, vacation homes and investment properties not allowed
• No income restrictions
• No first-time homebuyer requirement
• Non-occupying co-borrowers allowed for qualifying purposes
• 2- to 4-unit properties may be purchased
• Only one FHA mortgage allowed at a time
• No location restrictions
• No purchase price restrictions

Loan-to-Value (LTVs) and Combined Loan-to-Value (CLTVs) may vary by loan amount.