CHASE Home Loans offers FHA as well as the Chase "Dreamaker"
100% with a 620 score (reduced MI) 6% seller concessions + Owner Title and Deed Stamps
97% with a 600 score (reduced MI) 6% seller concessions + Owner Title and Deed Stamps
No homebuyer course
No mortgage history or rental history required
Gifts OK
FTHB OK
No reserves required
Full Doc
Cannot own other property (FTHB ok)
*income restrictions
*no loan limits
Hello Jason,
The 6% seller concessions is allowed on the 100% (620 score required) or the 97% (600 score required). Its a great program, (not a bond program) so U/W is quick and therefore so are closings.
I hope this answers your question.
Thank you
Doug
I should clarify that the program does have income limits (median income x 1.25%), however that can be overidden if the property is in:
1. LMI census tract
2. Minority census tract
3. Fannie Neighbors census tract (https://commlend.efanniemae.com/property/geocoder/expired.aspx) to see if the subject property qualifies
Thank you again
Doug
Larry,
lol, yes you can get a loan: SISA
Purchase or no cash out refi to 90% (680 score)
Heloc to 90% (680 score) no closing costs
I hope I answered your question.
Thank you
Doug
Hey doug- FYI
You might want to clarify LMI....while I might know that it is low to moderate income census tract the general public might not.
Welcome to AR
Thank you Rick,
I think you pretty much nailed it in your response, the link I supplied will help someone identify if a prospective property address would qualify.
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