- 3.5% down payment required.
- Mortgage insurance based on loan balance, reduces each year.
- Flexible credit qualification.
- Allows higher debt ratios.
- No income restrictions.
- Non-occupant Co-borrowers allowed.
- Primary residence only.
- At least one borrower must have a valid credit (FICO®) score.
- For clients with lower credit scores, but are recovering:
- 500 - 579 Credit Score; 10% down payment; 32/43% ratio allowed
- 580 - 619 Credit Score; 3.5% down payment; 32/43% ratio allowed
- Mortgage Limit $359,950, for Atlanta Metro single family home. Amount decreases in other counties, call for limit.
- Only own one FHA financed home allowed within the local area. You can however have an FHA and Conventional home in the same area. Call to discuss.
- Maximum 4 borrowers.
FHA $100 DOWN PAYMENT PROGRAM
Similar to FHA, but only requires $100 down payment instead of 3.5%.
Guidelines change frequently, therefore, we do not guarantee accuracy. Above is provided as a reference, to be confirmed with our team. Subject to change without notice.