Information as of 5/8/08. Provided by Platinum Capital Group.

For new FHA loans, the following will apply. These loans may take the place of a conventional loan for those desiring a smaller down payment who don’t mind providing full documentation (ie. tax returns, pay stubs, bank statements, etc.)

6% to $362,000, 6.5% to $729,250, 30 Year Fixed, No PP

Minimum 3% down payment required for all property types

Co-Signers allowed

620 Minimum credit scores. Exceptions considered.

No “declining market” reductions

Owner-occupied properties only, however, will loan on multiple unit properties:

1 unit - $729,750  2 units- $934,200  3 units- $1,129,250  4 units- $1,403,400

No EZ Qual programs. Full-doc only.

Plan for 45 day escrow.

For more information, please contact me and I’ll put you in touch with a mortgage specialist who can answer all of your questions.

Share This