• AFR Advantage FHA Financing 2% Grant program

AFR Advantage FHA Financing 2% Grant program

    • Minimum middle FICO scores 580 or above.
    • Competitively priced FHA loan.
    • No first time home buyer requirement.
    • Requires 1.5% down payment from the home buyer for down payment.
    • 2% Grant from Non-Profit + 1.5% Home Buyer Funds equals 3.5% equity with a 96.5% eligible FHA approved loan.
    • The first mortgage must meet FHA loan guideline eligibility.
    • No additional subordinate financing allowed.
    • FHA loan amounts only.
    • Primary Residences only. No Investment properties. No 2-4 units.
    • Manufactured Housing NOT allowed.
    • No Income limits.
    • FHA sales price limits.
    • Co-Signers/Non-occupying Co-Borrowers allowed if related by blood, marriage or law and Agency guidelines.
    • The borrower may have a NON-FHA ownership interest in other under certain conditions).
    • Home buyer education not required before Closing.