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Benefits
- No down payment and flexible requirements for source of down payment.
- No PMI payment provides additional access.
- Higher debt ratios make it easier to qualify.
- 15-year or 30-year, fixed 5-1 ARM, 7-1 ARM.
- 60 day rate lock.
- No prepayment penalty.
- Purchase affordable housing and have the funds to make it your home.
Features
- Borrow 100% of the purchase price, plus $10,000 for home improvements*.
- Credit counseling not required (limited exceptions apply).
- No down payment.
- No private mortgage insurance.
- No minimum loan amount. Maximum loan based on income.
- Not just for first-time home buyers.
- No maximum income in limits.
- No origination fees.
- Free pre-qualifications.
- No credit score required.
- Available in designated targeted census tracts.
* Home Improvements using these funds to be made in first 18 months of loan. Funds will be held in an FMMC construction escrow account. Restrictions apply.
Click here to access our mortgage calculators.
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