The Home Loan Mortgage Blog

Breaking News - FHA Advantage Program!

February 6th, 2018 9:57 PM by T. Fanning

Hello,

We are happy to announce the addition of the FHA Advantage Program! Highlights of the program include:

A grant of 2% of the required 3.50% down
Remaining 1.50% down can come from a gift
Credit scores as low as 580
Debt to income up to 48.99%

Borrowers must fall into one of the following categories:

First-time home buyer (i.e. no home ownership in the previous 3 years)
First responder (police officer, firefighter, public safety officer, paramedic, Emergency medical technician (EMT) or similar;
Educator;
Medical personnel (nurse, doctor, phlebotomists, health ambassador, or hospital, American Red Cross worker, or similar);
Civil servant in a Federal, state or local municipality;
Military personnel; or
Borrower’s income (or, in the event of multiple Borrowers on a loan application,
their income collectively) is equal to or less than 140% of the state or county median
income

This program is for the purchase of a primary residence only.

Please call or e-mail me with any questions!

Posted in:General

Posted by T. Fanning on February 6th, 2018 9:57 PM

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