LOAN PROGRAMS
CONVENTIONAL
• 5% minimum do wn payment requirement • Maximum loan amount of $548,250 • Seller concessions re li i e o
of s les
rice le se c ll for e ils • P MI required over 80% LTV • Additional options ar e available
FHA
• 3.5% minimum down payment requirement • Max loan amount will be $3 56,362 • Upfront Mortgage Insurance premium financed into the loan
•
Condominiums must be on FHA appr oved list
or ee Sin le ni S o
•
No income limits Seller concessions up to 6% of sales price
• • Gifts allowed
USDA
• Property must be located in USDA approved area
• No down payment required - 100% - 102% LTV financing based on appraised value • Possible financed closing costs • Reduced monthly mortgage insurance premiums • New and existing homes eligible • Seller concessions of o of s les rice • Condominiums may be eligible for financing • Not restricted to first time home buyers S inco e li i s re s ec o c n e n nee o e cco n e
•
for ore infor ion
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