KHC’s First Mortgage Government Loan Products
Federal Housing Administration (FHA)
Minimum 640 credit score required.
Financing to 96.50% of lesser of sales price or appraised value.
All KHC DAPs and other KHC-approved secondary financing may be used.
Maximum 6% seller-paid items.
All borrowers must be scored by TOTAL and receive approve/eligible or accept/accept.
Lender must follow the FHA maximum mortgage limits for particular area – see https://entp.hud.gov/idapp/html/hicostlook.cfmust follow Upfront and Annual Mortgage Insurance Premiums Guidelines (see information below).Upfront and Annual Mortgage Insurance Premiums
Loan Terms > 15 years
Case numbers on or after Monday, October 4, 2010
Less than or Equal to 95%
Insuring agency credit standards for the loan type the borrowerreceives.
Minimum credit score required for FHA, VA, and RHS: 640.Minimum score for conventional: 660. VA, and Conventional loans:
AUS approval required;follow findings with maximum debt ratios of 40/45.HS loans
: maximum debt ratios of 29/41 for manualunderwriting; with GUS approval 40/45 and follow findings
.Collections: for FHA, VA and Conventional loans, AUSapprovedfindings to be followed. For RHS loans, follow agency
Foreclosures must be discharged for a minimum 2-7 yearsaccording to agency guidelines and AUS findings.For most loan types, non-taxable income can be grossed-up by15%. Must follow insuring agency guidelines.
Call us today for you KHC mortgage loan. We can be reached at 502-905-3708 or email us at email@example.com