FHA - First time home buyers
- Income W2: 2 years employment history w/paystubs
- Income Self-Employed: 2 Years of Tax-returns
- Income Retirement, Social Security, Pension.
- Down Payment 3.5% (score 640+)
- Down Payment 3.5% (score 580+, reserves required)
- Down Payment 10% (score 550 to 579, reserves required)
- Collection do not matter
- Student Loans OK (0.5% of the balance)
- Gift money OK (family member)
- US Citizen, US residents & DACA
- DTI or Debt Ratio 34%/43%
- MI or mortgage insurance is required for the life of the loan.
- Up to 6% seller concessions
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If you want to purchase a home of:
- $200,000 you need $7,000-$10,000
- $250,000 you need $8,750-$11,500
- $300,000 you need $10,500-$13,000
- $350,000 you need $12,250-$15,000
- $400,000 you need $14,000-$17,000
- $450,000 you need $15,750-$18,000
All amounts are estimates, assuming seller concessions.
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One of our real estate partners will negotiate with the seller to help you pay the closing cost!
FHA - First time home buyers
with Down Payment Assistance = 0% Down
- Income W2: 2 years employment history w/paystubs
- Income Self-Employed: 2 Years of Tax-returns
- Income Retirement, Social Security, Pension.
- 0% down payment
- 620+ credit score
- 96.5% FHA 1st Loan
- 3.5% 2nd Loan Down Payment Assistance
- Collection do not matter
- Student Loans OK (0.5% of the balance)
- Gift money OK (family member)
- US Citizen, US residents, Work permit & DACA
- DTI or Debt Ratio 34%/43%
- MI or mortgage insurance is required for the life of the loan
- No Mobile or Manufacured homes
- Up to 6% seller concessions
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If you want to purchase a home of:
- $200,000 you need $2,000-$3,500
- $250,000 you need $2,500-$4,000
- $300,000 you need $3,000-$4,500
- $350,000 you need $3,500-$5,000
- $400,000 you need $4,000-$5,500
- $450,000 you need $4,500-$6,000
All amounts are estimates, assuming seller concessions.
VIEW FLYER
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One of our real estate partners will negotiate with the seller to help you pay the closing cost!
Conventional
- Income: 2 years employment history
- Down Payment 5% (score 620+)
- Collection may require to be paid
- Student Loans OK (1% of the balance)
- Credit Score 620+
- Seller concessions 3%
- Gift money OK
- US Citizen & US residents
- DTI or Debt Ratio 34%/43%
- MI or mortgage insurance is required until you gain 20% of equity on your property.
- Up to 3% seller concessions
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If you want to purchase a home of:
$200,000 you need $10,000
$250,000 you need $12,500
$300,000 you need $15,000
$350,000 you need $17,500
$400,000 you need $20,000
$450,000 you need $22,500
*add 2% of closing cost
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* One of our real estate partners will negotiate with the seller to help you pay the closing cost up to 3%
Self-Employed
- Income: 12 Months of Bank Statements
- Down Payment 10% (Score 740+ | 6 Months reserves)
- Down Payment 20% (Score 680+ | 3 Months reserves)
- Down Payment 20% (Score 660+ | 6 Months reserves)
- Down Payment 25% (Score 620+ | 3 Months reserves)
- ITIN Down Payment 20% (Score 680+ | 3 Months reserves)
- Collection doesn’t need to be pay
- Qualifying Residual Income $1,500 and DTI 50%
- No mortgage insurance required
- Up to 6% seller concessions
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- Income: 12 Months of Profit & Lost Statement
- Down Payment 10% (Score 740+ | 6 Months reserves)
- Down Payment 20% (Score 680+ | 3 Months reserves)
- Down Payment 20% (Score 660+ | 6 Months reserves)
- Down Payment 25% (Score 620+ | 3 Months reserves)
- ITIN Down Payment 20% (Score 680+ | 3 Months reserves)
- Collection doesn’t need to be pay
- Qualifying Residual Income $1,500 and DTI 50%
- No mortgage insurance required
- Up to 6% seller concessions
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A Bank Statement or Profit & Lost Statement Loan may be the solution for self-employed borrowers
When you’re self-employed, you don’t have the luxury of being able to provide pay stubs or show net income on tax returns when you’re trying to secure a mortgage loan. Not having these required documents can make getting approved difficult, even if you have good credit.
Our Bank Statement Loan program allows self-employed borrowers to seek a home loan without showing net income on taxes or pay stubs. We look at your income over 12 months using bank statements, and if you meet our criteria, you can get a mortgage loan with a competitive rate.
VA
- Active military personnel and veterans
- Income W2: 2 years employment history w/paystubs
- Income Retirement, Social Security, Pension.
- Down Payment 0% (score 580+)
- Collection do not matter
- Student Loans OK (1% of the balance)
- Gift money OK (family member)
- US Citizen, US residents
- DTI or Debt Ratio 34/43
- No MI or mortgage insurance required
- Up to 4% seller concessions
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If you want to purchase a home of:
- $200,000 you need $6,500
- $250,000 you need $7,750
- $300,000 you need $8,500
- $350,000 you need $9,250
- $400,000 you need $10,000
- $450,000 you need $12,750
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One of our real estate partners will negotiate with the seller to help you pay the closing cost!
USDA
- 0% down payment
- Property must be located in USDA area SEARCH MAP
- Active military personnel and veterans
- Income W2: 2 years employment history w/paystubs
- Income Retirement, Social Security, Pension.
- Credit score 620+
- Collection do not matter
- Student Loans OK (1% of the balance)
- Gift money OK (family member)
- US Citizen or US residents
- DTI or Debt Ratio 34/43
- No MI or mortgage insurance required
- Up to 6% seller concessions
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If you want to purchase a home of:
- $200,000 you need $12,000
- $250,000 you need $15,000
- $300,000 you need $18,000
- $350,000 you need $21,000
- $400,000 you need $24,000
- $450,000 you need $27,000
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One of our real estate partners will help you find the right home.
DACA
- Income W2: 2 years employment history w/paystubs
- Income Self-Employed: 2 Years of Tax-returns
- Income Retirement, Social Security, Pension.
- Down Payment 3.5% (score 640+)
- Down Payment 3.5% (score 580+, reserves required)
- Down Payment 10% (score 550 to 579, reserves required)
- Collection do not matter
- Student Loans OK (0.5% of the balance)
- Gift money OK (family member)
- US Citizen, US residents & DACA
- DTI or Debt Ratio 34%/43%
- MI or mortgage insurance is required for the life of the loan.
- Up to 6% seller concessions
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If you want to purchase a home of:
- $200,000 you need $7,000
- $250,000 you need $8,750
- $300,000 you need $10,500
- $350,000 you need $12,250
- $400,000 you need $14,000
- $450,000 you need $15,750
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One of our real estate partners will negotiate with the seller to help you pay the closing cost!
ITIN
- Income: W2/Paystubs
- Down Payment 10% (Score 720+ | 6 Months reserves)
- Down Payment 20% (Score 700+ | 4 Months reserves)
- Down Payment 30% (Score 660+ | 4 Months reserves)
- Down Payment 35% (No Score or 620+ | 5 Months reserves)
- Collection may need to be pay
- Qualifying Residual Income $1,500 and DTI 50%
- No mortgage insurance required
- Copy of passport
- 2 tradelines open reporting for 12+ months with activity in last 12 months or 1 open tradeline reporting for 24+ months with activity in last 12 months
- Incomplete Housing or Rental History or Living Rent Free, requires 35% down.
- Up to 6% seller concessions
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- Income: 12 Months of Bank Statements or Profit & Lost Statement
- Down Payment 20% (Score 700+ | 3 Months reserves)
- Collection doesn’t need to be pay
- Qualifying Residual Income $1,500 and DTI 50%
- No mortgage insurance required
- Copy of passport
- Up to 6% seller concessions
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One of our real estate partners will negotiate with the seller to help you pay the closing cost!
Renovations (Purchase and refinance)
FHA 203K:
- Credit Score 620+
- Income: 2 years employment history
- Down Payment 3.5% (score 620+)
- Maximum draws: 2 (50% at closing and 50% at completion)
- Contigency reserve: 10%, 15% if utilities off (20% UW discretion)
- Max Repair Amount: $50,000
- Collection not require to be paid
- Student Loans OK (0.5% of the balance)
- Seller concessions 6%
- US Citizen & US residents
- DTI or Debt Ratio 34%/43%
- Gift money OK
- MI required for the life of the loan
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HomeStyle®:
- Credit Score 620+
- Income: 2 years employment history
- Down Payment 5% (score 620+)
- Maximum draws: 5
- Contigency reserve: 10% up to 15%
- Max Repair Amount: $25,000
- Collection may require to be paid
- Student Loans OK (1% of the balance)
- Seller concessions 3%
- Gift money OK
- US Citizen & US residents
- DTI or Debt Ratio 34%/43%
- MI or mortgage insurance is required until you gain 20% of equity on your property.
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Examples of these allowable improvements are:
Structural alterations and additions (except in the case of manufactured homes, where no structural changes are allowed) Upgrade or modernization of central air/heat, plumbing, and electrical systems Installation, repair, or replacement of well and septic systems
Repair termite or moisture damage
Remodeling of kitchen and baths
Energy conservation improvements
New permanently affixed appliances
Additions or replacement of exterior decks, patios, and porches
Major landscaping and permanent hardscape such as driveways, walkways, retaining walls, and fences
The following improvements are not allowed:
Improvements that are not permanently attached to the property
Improvements for business or commercial purposes