By May Montana:
We have word that at least one bank will begin originating FHA (federal housing administration) loans tomorrow to $729,000 in San Francisco up to 97% of the purchase price.
On a purchase it would look like this:
| Loan amount | Purchase Price | Down Payment |
| $729,750 | 752,319 | 3% |
| $729,750 | 768,157 | 5% |
| $729,750 | 810,833 | 10% |
Schtuff:
- No FICO score requirements
- No reserve requirements
- Does not have to be a First time home buyer
- All of down payment can be a gift, so 3% does not have to come from the borrower
May Montana [website]
Mortgage Consultant
Guarantee Mortgage
415.694.5513
Filed under: may montana, mortgage , may montana, mortgage
