The Home Loan Mortgage Blog

Breaking News - FHA Advantage Program!

February 6th, 2018 9:57 PM by T. Fanning


                                             
Hello,

We are happy to announce the addition of the FHA Advantage Program! Highlights of the program include:
  • A grant of 2% of the required 3.50% down
  • Remaining 1.50% down can come from a gift
  • Credit scores as low as 580
  • Debt to income up to 48.99%
Borrowers must fall into one of the following categories:
  • First-time home buyer (i.e. no home ownership in the previous 3 years)
  • First responder (police officer, firefighter, public safety officer, paramedic, Emergency medical technician (EMT) or similar;
  • Educator;
  • Medical personnel (nurse, doctor, phlebotomists, health ambassador, or hospital, American Red Cross worker, or similar);
  • Civil servant in a Federal, state or local municipality;
  • Military personnel; or
  • Borrower’s income (or, in the event of multiple Borrowers on a loan application,
    their income collectively) is equal to or less than 140% of the state or county median
    income
This program is for the purchase of a primary residence only.

Please call or e-mail me with any questions!

Thanks!

T. Fanning
Owner - Mortgage Consultant | Home Loan Mortgage
1101 Twin Peaks Cir, Longmont, CO 80503
Cell: 303.931.3239 | Fax: 303.684.0686
t@hlmcolorado.com | www.hlmcolorado.com
LO NMLS: 208694 | CO License: 100008854 | Company NMLS ID: 479289 
Posted in:General
Posted by T. Fanning on February 6th, 2018 9:57 PM

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