FHA Tips 2016-07-19T23:34:09+00:00

FHA Tips

  • 3.5 % can be all Gifts
  • Maximum 6% toward buyer’s actual closing costs, discount points and other financing concessions
  • Non-Occupant Co-borrower is allowed (blending ratio)
  • Owner Occupied Only
  • Borrower have to live in the property for 1 year
  • $729,750 loan limits (OC and LA) $500,000 (Riverside and San Bernardino)
  • Loan is assumable
  • Minimum Fico is 640 (Can go as low as 580 but case by case)
  • Bankruptcy: 2 years seasoning