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Loan Programs

580 FICO

 

  • FHA Only

  • 5% Down Payment Required

  • Gift Funds Not Permitted

  • 6 Months Reserves Required

  • Max DTI: 31/43

  • FICO between 580-619

FHA

 

  • 3.5% Minimum Down Payment

  • No Foreclosures/Short Sales in last 3 years

  • No Chapter 7/13 Bankruptcies in last 2 years

  • 640 Minimum FICO


 

Conventional

 

  • 5% Minimum Down Payment

  • No Foreclosures in Last 7 Years

  • No Short Sales in Last 4 Years, 2 Years with Extenuating Circumstances

  • No Chapter 7 Bankruptcies in Last 4 Years

  • 2 Years Since Discharge Date of Chapter 13 Bankruptcy or 4 Years Since Dismissal Date

  • 680 Minimum FICO

VA

 

  • Must be serving/have served in the U.S. Armed Forces

  • No Money Down
     

MyHome

 

  • 5% Down Payment or Closing Costs Assistance

  • Deferred Payments

  • Must be a U.S. citizen, permanent resident or other qualified alien.

  • 660 Minimum FICO score

  • You will need to live in the home you are purchasing for the entire term of the loan, or until the home is sold or refinanced.

  • Must complete homebuyer education counseling and obtain a certificate of completion through an eligible homebuyer counseling organization.
     

3% Conventional

 

  • First Time Home Buyer Only

  • 3% Minimum Down Payment
     

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