We’ve now added a conventional first option that allows your borrowers to receive up to 7.0% of the first loan amount in DPA and Closing Costs.
- Conventional and FHA options:
- Conventional: Up to 7.0% first mortgage loan amount in the form of a 3.5% deferred 2nd lien (0% interest) & up to 3.5% as an optional gift
- FHA: Up to 6.5% first mortgage loan amount in the form of a 2.0% deferred 2nd lien (0% interest) & up to 4.5% as an optional gift
- Not limited to first time homebuyers
- 620 minimum FICO score (680 for FHA)
- For the purchase of primary residences in CA
- 55% Max DTI with AUS approval
- Eligible Properties: 1 unit SFR, FHA & Gateway approved condos, PUDs, and townhomes.
Contact your Business Development Manager or Account Executive for full details.