Dream Maker Mortgage Product
The Dream Maker Mortgage Product has no property restrictions and has a minimum credit score requirement of 620 except if you have no credit where you will be allowed to use alternative credit.
- 100% Financing with a 620 Min Credit Score
- No property restrictions
- Income Limits are 125% of HUD Median
- Example: Charlotte-Gastonia-Concord
- $ 75,250.00 Max Household Income
- waived if property is located in a Fannie Mae Neighbors Program - see Fannie Mae property GeoCoder http://www.eFannieMae.com
- Mortgage Insurance can be financed on top of mortgage!
- Up to 25% undocumented income allowed
- Documented Income Max DR is 53%: Combined DR Max is 40%
- Non FHA Appraisal is acceptable
- If No credit score may use nontraditional credit