FHA Loan Product
- 3.5% Down Payment required.
- FHA Up-front PMI 1.75%
- FHA Monthly PMI .55% or .5% with a 5% or greater downpayment
- 600 minimum credit score
- Debt to income is determined by an automated underwriting system. (55% is typically max)
Common Documents Needed For A Mortgage
• Driver’s license
• Social Security Card
• Full Month of Paystubs
• Last two year’s W-2s
• Last two year’s Tax Returns
• Most recent two-month Bank statements (all pages)
• Social Security / Retirement award letter (if applicable)
• Bankruptcy discharge papers (if applicable)
• Divorce Decree and/or Child Support orders (if applicable)