ZERO DOWN LOAN= 97% Conventional loan with 3% Chdap silent second

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ZERO DOWN LOAN= 97% Conventional loan with 3% Chdap silent second=100% Loan

  • First is a conventional loan
  • Second is a Chdap down payment assistance loan.
    • Below market rate interest.
    • Interest and principal deferred till first becomes due
    • 2nd loan not considered for qualification.
  • Borrower must meet both conventional and Chdap guidelines
  • Minimum fico 640
  • One unit principal residence only.
  • No manufactured homes
  • First loan is  automated underwriting only
  • Max dti 43%

 

 

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