FHA WITH TRUE DOWN PAYMENT ASSISTANCE PROGRAM
- 640 FICO MINIMUM
- Manual underwrites allowed (40/50 DTI with 2 compensating factors)
- 2nd’s are not a CALHFA or city second grants
- 160% of the area Median income for your area
- Debt to income ratios up to 55% with DU approval
- Transferred appraisals OK
- Single family residence OK (No Multiplex’s or Manufactured)
- First Time Home buyer education is required
- NON-Owner Occupied co-borrowers are allowed to help with income to debt ratios
- Gift funds allowed for down payment
- Unpermitted additions allowed (rental income not allowed)
- ONE FICO Score allowed
