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    FHA loans are some of the most flexible and easiest guidelines to qualify for. So it's without surprise we recommend these loans for many of our clients. 

    • Minimum Down Payment: 3.50% which can come as a “gift” from approved sources
    • Up Front MI of: 1.75%, can be added to Loan
    • Monthly MI of: .85%
    • Maximum Loan Amount SFR: Loan amounts are set by counties. In many northern California counties, the limit is $474,950. Loan amounts above $417,000 have additional costs and or rate increases. In the San Francisco Bay Area, FHA loan limits are as high as $625,500.
    • Maximum Seller Concession: 6%
    • Minimum FHA FICO requirement without additional down payment requirements is 600…but most companies require at least 620.
    • Refinancing is allowed, at high loan to value ratios
    • Both Fixed-Rate and Adjustable-Rate loans permitted
    • Roof & Pest inspections not mandatory unless noted by appraiser or called for in contract
    • No Income Limits
    • Do not have to be a first-time buyer
    • Must be owner occupied
    • No requirement for reserves when purchasing a single family dwelling.
    • Non-Occupying co-borrowers allowed
    • Can utilize other state, county and city programs, and Energy Efficient Mortgage options
    • FHA requires 90 days from date of trustee sale before purchase contract can be written unless REO is a federally chartered bank
    • FHA Loans are Assumable