100% financing with a mimimum 660 credit score!
Posted by on Monday, June 21st, 2010 at 12:04pm.100% financing with a 660 credit score!
Household income cap $54,000, for most areas in North Texas - (look for more on how the cap is waived in the coming days!)
$500 minimum out of pocket must be verified in borrower's account
No cap on seller concessions for prepaid items or closing costs AND NO MORTGAGE INSURANCE!
email: rspring@bbandt.com with this exact subject line for more info: BBT Affordable Housing Info
To request an application by email, send an email to: rspring@bbandt.com with this exact subject line: APPLICATION
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Another couple of good programs are the USDA rural housing which recently increased their funding fee but has no PMI and typically allow for slightly higher income. Also the HFHA offers a several state sponsored programs which have almost identical qualification requirements as FHA loans. My personal favorite is a 5% down conventional loan with prepaid mortgage insurance which alleviates PMI and in usually less that the upfront fees charged by FHA, VA, or USDA. Typically need to be over 700 though but awesome program.
Posted on Tuesday, February 1st, 2011 at 3:24 PM.