What Are The Differences Between An FHA – & A Conventional Loan?
- Price Adjustment: Minimal
- Down Payment: Can Be All Gifts
- Assumable: Yes
- Loan Limit: $729,750
- UMIP: 1% Of Loan Amount
- Occupancy: O/O Only
- Condo Approval: HUD Approved
- Foreclosure: 3 Years
- Shortsale: 3 Years
- Chapter 7: 2 Years.
- Chapter 13: Current
- made 12 Month Payment to BK Court.
- Price Adjustment: Adjusted for each 20 Fico Pts.
- Down Payment: Min: 5% of Borrowers Funds
- Assumable: No
- Loan Limit: $625,500
- UMIP: None
- Occupancy: O/O, 2nd Home, Investment
- Condo Approval: Lender Approved
- Foreclosure: 7 Years/3 yr. For Extenuating Circumstances.
- 2 Years: Max LTV = 80%
- 4Years: Max LTV = 90%
- 7 Years: LTV can be larger than 90%
- Chapter 7: 4 Years From Dismissal Date
- Chapter 13: 2 Years From Dismissal Date