With the Elite Financial Down Payment Assistance Program home program home buyers can now purchase a new home with no money down and finance their new property with a safe 30 year fixed rate loan. And it is not limited to first time homebuyers! FHA is aggressively looking for homebuyers to enter the Real Estate Market by offering this amazing purchase loan program.
Using a 5% forgivable grant, eligible home buyers can apply the grant as their down payment (3.5%) and the balance towards closing costs. As with all FHA loans, the balance of the funds needed to close can be from a gift. When you think about it, that 3.5% is equity for just purchasing! Single family Homes and FHA approved condominiums are eligible under this loan program.
FHA loan requirments provide for more liberal qualifying for FICO and income/debt ratio requirements apply. This means you may qualify even with a low fico score or with a hight debt to income ratio. However, income restrictions for the buyer alone (not household income) do apply based upon the county in which the home is purchased.
Call today to see how this program can put you into your new home! There is no obligation for the call or to pre-qualify for the purchase. With interest rates at close to near all-time lows, there may never be another opportunity like this one again! Get Pre Approved Today!