FHA
What is the minimum Down Payment for an FHA Loan?
3.5% of the Purchase Price
What's the MAX amount of assistance that a Seller can give to a Buyer with Conventional Financing who's putting 5% down?
3% of the Purchase Price
What inspection is always required
WDI Inspection
How much interest is charged for DPA?
0%
What does PITI stand for?
Principle, Interest, Taxes, Insurance
Whats the max amount of Sellers Assistance you can ask for with an FHA Loan?
6%
$0
How much is the Funding Fee for a USDA Loan?
1% of the purchase price
Whats the most DPA that DSHA offers? (%)
3%
What is the minimum Credit Score for a Conventional Buyer who's putting 5% down?
680
If someone purchases a property using an FHA loan, they must occupy the property within ___ day(s) of settlement.
60 Days
What does the Back-End DTI ratio factor in?
Mortgage Payment + Debt
How much is Mortgage Insurance (MI) for an FHA Loan?
.55% of the Loan Amount
What is the most a First Time Homebuyer can get waived for Transfer Tax in Delaware? (%)
1.25% of the Purchase Price.
The entire .5% State Tax and .75% off the County
What is the DTI Ratio for an FHA Buyer?
47/57