Loan Products
FHA Plus
Details:
The FHA Plus consists of a fixed loan with a second loan to assist with the down payment and closing costs. The FHA Plus offers low, fixed monthly payments with liberal FHA qualifying.
Key Features:
- $0 down payments
- Financed closing costs
- 30-year repayment terms
- Borrower(s) must have cash available equal to a minimum of 1% of the sales price
- Second mortgage limited to 5% of the lesser of sales price or appraised value.
Benefits:
- Easy qualifying
- Good choice for qualified borrowers who need down payment and closing costs assistance
- Financed down payment & closing costs
- Low, stable, fixed monthly payments