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WHY KEEP PAYING RENT WHEN YOU CAN BUY?

May 6, 2013

3% Down Payment Assistance Programs (DPA) with A FHA 96.5% First Loan Program

ACCESS FHA Loan Program:
580 Minimum FICO Required
43-47% Maximum Debt Ratio
2nd Mortgage Payment is Required @
8.25% rate on a 15 Year Fixed Amortization
Access admin fee is $350
Must meet county income limits (ex. LA County income limit is $85,680 combined household income)
Manual Underwriting Allowed
No score with Non-Traditional credit allowed

CHADAP FHA Loan Program:
640 Minimum FICO Required
3% towards closing costs/pre-paid expense
Up to 47% Maximum DTI Ratio
No 2nd Mortgage Payment
DPA is Forgiven as long as they don’t refinance or sell in the first 9 years
CHDAP admin fee is $350
No min. down payment required from borrowers funds (.5% can gifted funds)
Must meet county income limits (ex. LA County income limit is $102,480 for 1-2 people in household or $119,560 for 3-4 people in household)

PLATINUM FHA Loan Program:
620 Minimum FICO Required
3% towards closing costs/pre-paid expenses
Up to 50% DTI
4.5% rate (no buy down available)
No 2nd mortgage payment
DPA is forgiven as long as they don’t refinance or sell in the first 9 years
No non-occupant co-borrowers allowed
No min. down payment required from borrowers funds (.5% can be gifted funds)
Must meet county income limits (ex. LA County income limit is $85,680 combined household income)

FOR A FAST PRE-APPROVAL: Complete a loan application on our website http://pmccanhelp.com/Apply_Now.html

Job Opportunities? Now is the time to see how PMC Can Help You earn what you deserve!  Visit our Website and apply online today!http://pmccanhelp.com/PMC_Careers.html

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