FHA
- 3.5% Down Payment
- Minimum credit score 580
- Maximum seller contribution is 6% of sales price
- 25 - 30 days standard loan processing turn times, 21 days or less if borrower is already pre-qualified
Conventional
- 5% down payment
- 5% - 10% down payment allows 3% seller contribution, 11% - 25% down payment allows 6% seller contribution
- More than 25% down payment allows for 9% seller contribution
- Investor purchase - Limited to 2% seller contribution
- Minimum credit score 580
- 25 - 30 standard loan processing turn times, 21 days or less if borrower is already pre-qualified
USDA
VA
- 0% down payment
- 4% in seller contributions over and above the non-allowable's
- Minimum credit score 580
- Requires termite inspection
- VA funding fee for regular military is financed into the loan (unless disabled)
-
|
1st Time Use & Active Duty |
Subsequent Use |
100% Financing |
2.15% |
3.3% |
95% Financing |
1.5 % |
1.5% |
90% Financing |
1.25% |
1.25% |
Homes for sale in Alvin, TX
Homes for sale in Rosharon, TX