First Time Home Buyers
- 100% Financing with fico as low as 575
- Seller can contribute up to 6% towards closing costs
- Borrower can contribute as little as $500.00 (in some cases even less) towards total purchase transaction
- Reduced Private Mortgage Insurance (PMI)
FHA
- 100% Financing
- Seller can contribute up to 6% towards closing costs
- Borrower must contribute 3% towards total purchase transaction
- 100% of the down payment, closing costs and escrows can be from a gift
- Expanded qualifying ratios
- Less stringent credit and underwriting standards (non-standard or alternative credit histories considered)
- Non-occupant co-borrowers can be used on single family homes or condos
- 85% of rental income may be used to qualify on multi-family properties
- FHA loans are assumable to qualified applicants, enhancing future marketability of home
VA
- Must be a veteran
- 100% Financing
- No money towards purchase transaction. Seller can pay everything!
- No Private Mortgage Insurance (PMI) Required
Heather Noble
Senior Mortgage Consultant
Office: 215-953-1960 ext. 207
Fax: 215-953-2033
Hnoble@equihome.com
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