Calling FHA Applicants: Boost Your Down Payment
Get A Serious Boost!
A new program that helps qualified FHA borrowers cover their entire 3.5% down payment and even a portion of closing costs.
How Does It Work?
Apply to have your entire 3.5% down payment covered via a second lien. Need help with with closing costs, too? This program allows for an additional 1.5% to put toward closing costs.
The Details:
This could cover your entire FHA down payment plus 1.5% to put toward closing costs via a repayable second lien with a 10-year amortization term and rate at 2% above the first lien rate.
Available to first-time and repeat homebuyers.
Gift funds allowed.
Minimum 620 FICO score required.
Maximum 50% DTI ratio.
Primary residence only.