97% FHA Loan Program Can Get You Into A Secure Home of Your Own!!!

97% FHA Loan Programs
With a 3% Non-Payable Grant = 100% Purchase
With Large Loan Amounts at Low Rates

Loan Program:

The 97% FHA Loan program is a conventional home loan,
It is designed for first time home buyers,,
It is a fixed rate mortgage with study monthly payments,
The borrower to use gift funds for the entire down payment or by seller contribution of up to 3% of the sales price if the buyer is putting less than 10% down. (If the buyer is putting 10% or more down, the seller may contribute up to 6% of the closings costs).

Loan Advantages:

It is a 30 year fixed rate loan, payments are predictable over the life of the loan,
Best for buyers living on a fixed income - a set budget,

Loan Requirements:

Their is a 3% sales price minimum down payment requirement,
Property must be owner occupied,
A 2 year history of income and history is required,
Job title should be the same for 2 years or a related field,
Education can be counted towards the 2 year history, (for example if your education is in business management and you are a business manager that may suffice),
The borrower is required to have a minimum of two months cash reserves in the bank by the close of escrow.

Allowable Types of Properties

Single Family Residence (SFR) with attached/detached garage

2 to 4 Unit Properties - are allowed

Condominium or PUD - approved by Fannie Mae / Freddie Mac

Not Allowed:

Loan Assumability and Prepayment Penalty:

ABOUT YOU:
First Name
Spouses Name
Last Name
Home Number ( )
Work Number ( )
Fax Telephone ( )

E-mail Address
Street Address
City
State Zip
Your SS#
Spouses

Loan Application

Comments, Questions and/or Suggestions:

All offers, rates and programs are subject to change and are based on availability.
Only one offer can be valid per pre-approved borrower.

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All programs, rates and terms are for broker use only and are subject to change without notice.