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.