Licensed in the State of Florida
New Mortgage Guidelines for 2016
New mortgage guidelines for 2016
Fannie Mae and Freddie Mac have several programs for first time home buyers with a low down payment.
- My Community
program requires a minimum down payment of 5%. The borrower’s income
cannot exceed 100% of the annual HUD Area Median Income for the subject
- Home Possible®
program requires a minimum down payment of 5%. First Time Home Buyers
must participate in a home ownership education program. 40-year fixed
rate Home Possible® mortgage.
- Community Solution
loans provide additional flexibilities for teachers/educational
institution employees, firefighters, police, healthcare workers and
loans offer borrowers with a disability or who have a family member
with a disability who may need greater underwriting flexibilities,
including non-occupying co-borrowers.
- HomePath® program is a fixed-rate, fully amortizing loan program
that provides the financing for properties that are owned by Fannie Mae as a
result of foreclosure or other similar action such as a deed-in-lieu.
- Conforming loans that promote home ownership for first time home buyers with programs that offer a low down payment.
- Conforming High Balance are mortgages originated using higher maximum loan limits that are permitted in designated high-cost areas.
and Freddie Mac require a minimum credit score of 620 to buy a home. Their mission is to help ensure that home buyers and home owners have access to mortgage financing.
Call us 888.958.4228
FHA purchase FHA refinance FHA 203k loan FHA cash out $100 down loan
FHA loan requirements - FHA loan limits - FHA loans - FHA Streamline
Mortgage World Home Loans is
an online mortgage company specializing in FHA loans for first time
home buyers. To buy a home with 3.5% down payment and a minimum
credit score of 580 using an FHA loan, apply now.
We look forward to working with you.
KEYWORDS: New mortgage guidelines for 2016 Florida