Program Qualifications.
Boost Down Payment Assistance Program (FHA)

Minimum Loan Amount: 100K
Maximum Loan Amount: Per county limits (1st only), High balance, repayable: allowed for 3.5%
Min FICO: 580
Homeowner education required for any borrower with a score <620
Max 96.5% LTV, no Max CLTV
Occupancy: Primary, Non-occupant co-borrower
30 Year Fixed
45% DTI (Debt to Income) regardless of AUS (automated underwriting system) approval
Property Types: SFR, 2-4 units, Condo (must not be in litigation), PUD, Manufactured (doublewide only— not allowed on leased land)
FTHB (First-time home buyer) allowed but not required
All applicants should have a "present housing payment" unless the borrower is not currently making a housing payment.
Transfer appraisal allowed
Conforming loan limits only
Eligible Buydown Option: 1/0 Buydown & 2/1 Buydown
Repayable or forgivable 2nds allowed
Seller or Builder Paid Buydowns Allowed
Borrower must meet MRI (Minimum Required Investment) of 3.50%
If reserves are required, the reserves must be included in the interested party contribution limit
Borrower must qualify at the note rate