| Maximum Household Income |
Varies by County (see Sales Price & Income Limits) |
Varies by County (see Sales Price & Income Limits) |
Varies by County (see Sales Price & Income Limits) |
| Maximum Sales Price (Including all incidentals) |
Varies by County (see Sales Price & Income Limits) |
Varies by County (see Sales Price & Income Limits) |
Varies by County (see Sales Price & Income Limits) |
| Interest Rate |
3.60% fixed rate, subject to change |
3.90% fixed rate, subject to change |
4.20% fixed rate, subject to change |
| Loan Term |
30 years (1st mortgage) |
30 years (1st mortgage) |
30 years (1st mortgage) |
| Loan Types |
FHA, VA, USDA/RD, Conventional |
FHA, VA, USDA/RD, Conventional |
FHA, VA, USDA/RD, Conventional |
| Mortgage Insurance or Guarantee |
As required by loan type |
As required by loan type |
As required by loan type |
| Buydowns |
Not allowed |
Not allowed |
Not allowed |
| Assumable |
Subject to qualifying |
Subject to qualifying |
Subject to qualifying |
| Pre-Payment Penalty |
No penalty |
No penalty |
No penalty |
| Subject to Recapture |
Yes |
Yes |
Yes |
| Required Reserve |
As required by loan type |
As required by loan type |
As required by loan type |
| Minimum Investment |
As required by loan type |
As required by loan type |
As required by loan type |
| Closing Costs |
May come from Borrower, Seller, a gift, or as required by loan type |
2% of loan amount available to borrower(s) as assistance with down payment and closing costs. The entire 2% assistance grant must be used. |
4% of loan amount available to borrower(s) as assistance with down payment and closing costs. The entire 4% assistance grant must be used. |
| Down Payment |
As required by loan type |
|
|
| Homebuyer Education |
Not required |
Required |
Required |
| Origination Fee |
Up to 2% maximum |
Up to 2% maximum |
Up to 2% maximum |
| Discount Point |
Maximum ¼% on 1st mortgage |
Maximum ¼% on 1st mortgage |
Maximum ¼% on 1st mortgage |