Flexible Financing Solutions
Imagine you're stepping into the world of homeownership, but with a unique twist in financing that maximizes your buying power without stretching your budget too thin. Welcome to the FHA 100% CLTV Combo, a flexible financing solution that blends two loans into one powerful strategy.
FHA 100% CLTV Combo First 30 Year Fixed
FHA 100% CLTV Combo Second 10 Year Fixed)
Highlights:
✓ 100% financing in the form of an FHA first lien at 96.5%
✓ A second lien of up to 3.5% to cover down payment and/or closing costs ( rate of second mortgage is 2.0% greater)
✓ Min FICO 660
✓ Max DTI 45%
✓ Homebuyer's Education for at least one borrower is required
✓ All borrowers, including non-occupant borrowers, must be family members
✓ DACA - Ok
✓ ITIN are not allowed
✓ Gifts Funds / Gift of Equity - Ok
✓ High Balance loan amounts are ineligible
✓ Escrow holdbacks are not allowed