• Home
  • Buy
  • House 2 Home FHA Down Payment Assistance

House 2 Home FHA Down Payment Assistance

ALL Florida Counties

  • Provides up to 4% in down payment assistance in ALL Florida Counties for FHA Loans.
  • Down Payment Assistance is forgiven when 36 consecutive months of on-time 1st mortgage payments have been processed.
  • Buyer does not need to be first time Home Buyer.
  • Origination fee 1.75% for FHA and USDA. 1% Origination fee for VA Loans. Buyer cash or Seller credit must be provided at Closing.
  • Must be the primary residence, no Investors.
  • Stick built homes or manufactured homes allowed for Government Agency loans (FHA, VA and USDA.
  • 1-4 Units allowed, SFR, Duplexes, Triplexes, Quadraplexes, Mobile Homes-double wide's only
  • Buyer may own other properties.
  • Co-Signors/Non-occupying Co-Borrowers allowed if related by blood, marriage or law and Agency guidelines.
  • 30 year fixed term.
  • Competitive mortgage Interest rates.
  • Can be used with VA Mortgages (4%), FHA Mortgages (4%) and USDA Mortgages (3%).
  • Borrower must qualify for FHA, USDA or VA Loan.
  • Supplemental Alternative credit NOT allowed.
  • Maximum Income Limits set at 140% HUD area median income for FHA, VA or USDA of Florida county where the house is located.
  • Conventional version of this product limits HUD area median Income (AMI) to 115%.
  • Income limit is based off Borrower(s) qualifying income reported on the 1003, regardless of household size.
  • Maximum loan amount of FHA limits in the area purchased. Generally, the lesser of $424,100 (not including MI) or maximum loan amounts permitted by HUD.
  • FHA purchase price limits.
  • Home Buyer Education required.
  • Lender credit not available.
  • Minimum middle FICO credit score is 620 or higher.
  • Maximum debt-to-income 45%-50% Depending on credit score and compensating factors.
  • 47% LTV or higher must have 12 months of rental history.
  • No Prepayment Penalty Fee if the loan is paid out early.
  • No cash back to Borrower/Buyer.
  • Seller can contribute up to 6% towards FHA, VA or USDA Buyers Closing Costs.
  • No 203k Renovation loans allowed.