|
HIP for First-Time Homebuyers (see income limits) |
|
FHA, VA & USDA |
Home Is Possible for First-Time Homebuyers Highlights (FHA/VA/USDA-RD)
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You must be a first-time homebuyer (could not have owned a primary residence in the last 3 years)
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Maximum purchase price & income limits per county: (click here for limits)
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Household income must be used in determining income
-
Cosigner's income does not count towards income limits
-
Minimum credit score 660 (680 for manufactured homes)
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Maximum debt ratio 45%
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DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
660 |
3.250% |
w/2% |
3-yr prorated |
|
FHA, VA & USDA |
Home Is Possible for First-Time Homebuyers Highlights (FHA/VA/USDA-RD)
-
You must be a first-time homebuyer (could not have owned a primary residence in the last 3 years)
-
Maximum purchase price & income limits per county: (click here for limits)
-
Household income must be used in determining income
-
Cosigner's income does not count towards income limits
-
Minimum credit score 660 (680 for manufactured homes)
-
Maximum debt ratio 45%
-
DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
660 |
3.750% |
w/4% |
3-yr prorated |
|
Government Insured Loans (Income to $105,000) |
|
FHA, VA & USDA |
FHA, VA & USDA Highlights
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Maximum purchase price $548,250 (remember to check Agency limits)
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Maximum income limit $105,000
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Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income does not count towards income limits
-
Minimum credit score 640 (680 for manufactured homes)
-
Maximum debt ratio: 50% if 680+ credit score (FHA and Conventional only); 45% if less than 680 credit score
-
Purchaser cannot own other property at the time of close
-
DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
640 |
3.875% |
w/3% |
3-yr prorated |
|
FHA, VA & USDA |
FHA, VA & USDA Highlights
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Maximum purchase price $548,250 (remember to check Agency limits)
-
Maximum income limit $105,000
-
Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income does not count towards income limits
-
Minimum credit score 640 (680 for manufactured homes)
-
Maximum debt ratio: 50% if 680+ credit score (FHA and Conventional only); 45% if less than 680 credit score
-
Purchaser cannot own other property at the time of close
-
DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
4.125% |
w/4% |
|
FHA, VA & USDA |
FHA, VA & USDA Highlights
-
Maximum purchase price $548,250 (remember to check Agency limits)
-
Maximum income limit $105,000
-
Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income does not count towards income limits
-
Minimum credit score 640 (680 for manufactured homes)
-
Maximum debt ratio: 50% if 680+ credit score (FHA and Conventional only); 45% if less than 680 credit score
-
Purchaser cannot own other property at the time of close
-
DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
4.750% |
w/5% |
|
HIP Specialty Programs (Income to $105,000) |
|
Heroes - VA & USDA |
HIP for Heroes Highlights
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Maximum purchase price $548,250
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Maximum income limit $105,000
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Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income does not count towards income limits
-
Minimum credit score 640 (680 for manufactured homes)
-
Maximum debt ratio 45%
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VA and USDA-RD loans only
-
Purchaser cannot own other property at the time of close
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
640 |
2.750% |
n/a 0% |
N/A |
|
Teachers (FHA) |
HIP for Teachers FHA Highlights
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Maximum purchase price $548,250 (remember to check Agency limits)
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Maximum income limit $105,000
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Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income does not count towards income limits
-
Minimum credit score 660 (680 for manufactured homes)
-
Maximum debt ratio 45%
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Purchaser cannot own other property at time of close
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Must be a Nevada licensed K-12 public or public charter school full-time classroom teacher
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$7,500 DPA is in the form of a no interest, no payment prorated 5-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
660 |
2.750% |
$7,500 |
5-yr prorated |
|
Teachers (VA & USDA) |
HIP for Teachers VA and USDA Highlights
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Maximum purchase price $548,250 (remember to check Agency limits)
-
Maximum income limit $105,000
-
Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income does not count towards income limits
-
Minimum credit score 640 (680 for manufactured homes)
-
Maximum debt ratio 45%
-
Purchaser cannot own other property at time of close
-
Must be a Nevada licensed K-12 public or public charter school full-time classroom teacher
-
$7,500 DPA is in the form of a no interest, no payment prorated 5-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
640 |
2.750% |
$7,500 |
|
Conventional Loans - Freddie Mac 80% AMI OR LESS (see income limits) |
|
Conventional (4% DPA) |
HFA Advantage Highlights
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Maximum purchase price $548,250
-
Maximum income limit per county (click here for county limits - Freddie)
-
Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income must be included when determining qualified income
-
Minimum credit score 640
-
Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
-
Purchaser cannot own other property at the time of close
-
DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
640 |
4.250% |
w/4% |
3-yr prorated |
|
Conventional (5% DPA) |
HFA Advantage Highlights
-
Maximum purchase price $548,250
-
Maximum income limit per county (click here for county limits - Freddie)
-
Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income must be included when determining qualified income
-
Minimum credit score 640
-
Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
-
Purchaser cannot own other property at the time of close
-
DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
4.750% |
w/5% |
|
Conventional Loans - Fannie Mae 80% AMI OR LESS (see income limits) |
|
Conventional (4% DPA) |
HFA Preferred Conventional Highlights
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Maximum purchase price $548,250
-
Maximum income limit per county (click here for county limits - Fannie)
-
Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income must be included when determining qualified income
-
Minimum credit score 640 (680 for manufactured homes)
-
Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
-
Purchaser cannot own other property at the time of close
-
DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
640 |
4.250% |
w/4% |
3-yr prorated |
|
Conventional (5% DPA) |
HFA Preferred Conventional Highlights
-
Maximum purchase price $548,250
-
Maximum income limit per county (click here for county limits - Fannie)
-
Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income must be included when determining qualified income
-
Minimum credit score 640 (680 for manufactured homes)
-
Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
-
Purchaser cannot own other property at the time of close
-
DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
4.750% |
w/5% |
|
Conventional Loans - Fannie Mae Over 80% AMI (income limit $105,000) |
|
Conventional (4% DPA) |
HFA Preferred Conventional Highlights
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Maximum purchase price $548,250
-
Maximum income limit $105,000
-
Non-purchasing spouse's income must be included when determining qualified income
-
Cosigner's income must be included when determining qualified income
-
Minimum credit score 640 (680 for manufactured homes)
-
Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
-
Purchaser cannot own other property at the time of close
-
DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.
|
640 |
4.875% |
w/4% |
3-yr prorated |
