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HIP for First-Time Homebuyers (see income limits) |
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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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(see link under rate sheet for Targeted Areas)
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Household income must be used in determining income
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Cosigner's income does not count towards income limits
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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.
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660 |
5.875% |
w/2% |
3-yr prorated |
|
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)
-
Maximum purchase price & income limits per county: (click here for limits)
-
(see link under rate sheet for Targeted Areas)
-
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.
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660 |
6.250% |
w/4% |
3-yr prorated |
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HIP Specialty Programs (single borrower income to $105,000, two or more borrowers income to $135,000) |
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Heroes - VA & USDA |
HIP for Heroes Highlights
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Maximum purchase price $647,200
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Maximum income limit - single borrower income to $105,000, two or more borrowers income to $135,000
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Non-purchasing spouse's income must be included when determining qualified income
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Cosigner's income does not count towards income limits
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Minimum credit score 640 (680 for manufactured homes)
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Maximum debt ratio 45%
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VA and USDA-RD loans only
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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.
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640 |
6.125% |
w/0% |
N/A |
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Teachers (FHA) |
HIP for Teachers FHA Highlights
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Maximum purchase price - check Agency limits
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Maximum income limit - single borrower income to $105,000, two or more borrowers income to $135,000
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Non-purchasing spouse's income must be included when determining qualified income
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Cosigner's income does not count towards income limits
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Minimum credit score 660 (680 for manufactured homes)
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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.
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660 |
6.125% |
$7,500 |
5-yr prorated |
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Teachers (VA & USDA) |
HIP for Teachers VA and USDA Highlights
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Maximum purchase price $647,200 (remember to check Agency limits)
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Maximum income limit - single borrower income to $105,000, two or more borrowers income to $135,000
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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)
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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.
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640 |
6.125% |
$7,500 |
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Conventional Loans – Fannie Mae & Freddie Mac 80% AMI or Less (see income limits) |
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Conventional (0% DPA) |
Highlights
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Maximum purchase price $647,200
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Maximum income limit per county (click here for county limits)
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Non-purchasing spouse's income must be included when determining qualified income
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Cosigner's income must be included when determining qualified income
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Minimum credit score 640
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Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
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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.
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640 |
6.250% |
w/0% |
N/A |
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Conventional (2% DPA) |
Highlights
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Maximum purchase price $647,200
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Maximum income limit per county (click here for county limits)
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Non-purchasing spouse's income must be included when determining qualified income
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Cosigner's income must be included when determining qualified income
-
Minimum credit score 640
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Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
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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.
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Temporarily Unavailable
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w/2% |
3-yr prorated |
