• Traditional FHA 30 Year Fixed

  • Purchase Transactions:

    Feature: Rate is fixed for the term of the loan

    Qualifications:

    • Credit scores as low as 550.
    • Maximum 50% debt to income ratio
    • Maximum loan to value: 97%
    • Maximum loan amount: 115% of the county loan limit. Ceiling is $726,525
    • Traditional income sources, ie. tax returns, W-2;s, etc.
    • Owner-occupied only.
    • Chapter 7 bankruptcy, must wait two years after discharge.
    • Chapter 13 bankruptcy, borrower may be in bankruptcy, with the approval of the court.
    • Prior foreclosure/short sale:  Waiting period is three years.
    • 1-4 units; manufactured homes (not mobile homes); condos (on approved list) and PUDs allowed.

    Refinance Transactions:

    Feature: Rate is fixed for the term of the loan

    Qualifications:

    • Credit scores as low as 550.
    • Maximum 50% debt to income ratio
    • Maximum loan to value: 97% (rate and term), 85% (cash out)
    • Maximum loan amount: 115% of the county loan limit. Ceiling is $726,525
    • Traditional income sources, ie. tax returns, W-2;s, etc.
    • Owner-occupied only.
    • Chapter 7 bankruptcy, must wait two years after discharge.
    • Chapter 13 bankruptcy, borrower may be in bankruptcy, with the approval of the court.
    • Prior foreclosure/short sale:  Waiting period is three years.
    • 1-4 units; manufactured homes (not mobile homes); condos (on approved list) and PUDs allowed.
  • Streamline Refinance

    Refinance Transactions:

    Feature: Lower your rate on your current FHA loan

    Qualifications:

    • Must have a current FHA loan
    • No appraisal required
    • No LTV requirements
    • No income qualifications
    • Credit report is pulled but is not used to qualify borrower
    • Owner-occupied, 1-4 units, 2nd homes, investments allowed (higher rates and fees may apply)
  • FHA Back to Work Program

    Purchase Transactions:

    Feature: Rate is fixed for the term of the loan

    Qualifications:

    • Credit scores as low as 550.
    • Maximum 50% debt to income ratio
    • Maximum loan to value: 97%
    • Maximum loan amount: 115% of the county loan limit. Ceiling is $726,525
    • Traditional income sources, ie. tax returns, W-2;s, etc.
    • Owner-occupied only.
    • Prior credit event (BK, foreclosure, etc.) waiting period is waived.  Must prove financial hardship and recovered from such.
    • Home counseling is required.
    • 1-4 units; manufactured homes (not mobile homes); condos (on approved list) and PUDs allowed.

    Refinance Transactions:

    Feature: Rate is fixed for the term of the loan

    Qualifications:

    • Credit scores as low as 550.
    • Maximum 50% debt to income ratio
    • Maximum loan to value: 97% (rate and term), 85% (cash out)
    • Maximum loan amount: 115% of the county loan limit. Ceiling is $726,525
    • Traditional income sources, ie. tax returns, W-2;s, etc.
    • Owner-occupied only.
    • Prior credit event (BK, foreclosure, etc.) waiting period is waived.  Must prove financial hardship and recovered from such.
    • Home counseling is required.
    • 1-4 units; manufactured homes (not mobile homes); condos (on approved list) and PUDs allowed.