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.

• 600 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
• Product not available in NY, or WA

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