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$500 down payment and one month Principal, Interest, Taxes, &
..... Insurance..(PITI)
from borrowers own funds.
Purchase
or refinance.
No cash
out permitted.
Owner
occupied primary residence.
97%
financing (LTV).
Ratio
45/45.
620
minimum credit score.
12
months good rental history and three alternative credit .references.
If verification
of rental cannot be verified (i.e., lives with relatives),
..... borrower .needs
six months Principal, Interest, Taxes, & Insurance
..... (PITI) reserves or.5%
down payment.
U.S.
citizen
Homebuyer
education required for first time home-buyers.
Cannot
own another property at time of closing.
Closing
cost and prepaid can be from a gift, grant, or sellers 3%
......contribution.
Medical
collection allowed if they are the only major derogatory credit.
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