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FHA
Access |
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Loan
Program Benefits
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| 102% loan amount to help pay closing cost |
|
No Down Payment needed |
| No First Time Homebuyer Requirements |
| No Recapture Tax |
| Single Family Home and Condo's residences only |
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2nd Mortgage: This
is a FHA first mortgage that requires 3% Down, but Access 2000
provides a 2nd mortgage in the amount of 5% of the sales price.
This loan is fully amortized for 20 years. Altogether, the homebuyer
receives financing for 102% of the sales price. The 5% covers
the 3% down payment and the remaining 2% covers most of the FHA
regulated closing costs associated with purchasing a home. Therefore,
a individual can purchase a home with almost no money. Qualifying
Buyers:
You
are not required to be a first time buyer to use this program,
but you do have to fall within income limits for the county
you are purchasing the home in. |
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All programs,
rates and terms are for broker use only and are subject to change without
notice.