ZERO-DOWN
Home Loan

This loan is essentially a two-in-one package that starts off together. The first part is a standard 30-year FHA loan, which is backed by the government. The second part is a 10-year private loan that covers what would normally be the down payment. Together, they make up the full amount needed to purchase a home, with no initial down payment required from the buyer. Borrowers still need to consider closing cost and other housing expenses.

• 620 Min. FICO
• 96.5% LTV FHA 30 year Fixed 1st
• Combined with a 3.5% LTV 10 year Fixed 2nd
• No DTI overlay with DU approval
• No income limit
• No first-time homebuyer requirement
• Non-occupant co-borrowers allowed
• Conforming balance only
• 2-1 temporary buydown option available

Eligible Properties:

• • Single Family Residences
  • 2 units – LLPA applies
  • PUDs
  • Townhouses
  • Condominiums – Must not be in litigation, Must be FHA Approved
  • Double wide manufactured housing OK

Eligible States:

Alabama, Arizona, Arkansas, California, Colorado, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Minnesota, Mississippi, Montana, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin