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20 % Down Payment
Full Documentation of
Income and Assets
Requires a Credit Score >740
Minimum
Property Must be Rock Solid
Condition
These loans allow
for the least amount out of pocket on your part as the buyer.
Typically the Realtor will write your offer to purchase in the contract
requiring the Seller to pay all of your closing costs.
*Note...there is a limit
of 3% of the sales price that the Seller is allowed to pay so if your
closing costs exceed an amount equal to 3% of the sales price you'll
be on your own for the rest. |
30% Down Payment
Full Documentation of
Income and Assets
Requires a Credit Score >680
Minimum
Property Must be Rock Solid
Condition
Property Must Have 12 Mos.
Seasoning (no flips)
Typically the Realtor will write your offer to purchase in the contract
requiring the Seller to pay all of your closing costs.
*Note...there is a limit
of 6% of the sales price that the Seller is allowed to pay so if your
closing costs exceed an amount equal to 6% of the sales price you'll
be on your own for the rest. |
