Equity Prime Mortgage (EPM) Empowered DPA Loan – 140% Income Limits
Special Alert
Maximum Purchase Price
Inquire for Details
Contact Info:
https://www.epmwholesale.com/ 5 Concourse Parkway, Queen Building, Ste 2250, Atlanta, GA 30328
Limitations
Credit Score Requirements
Minimum Credit Score: 620
Deferred Payments?
Accepted First Mortgage Type:
FHA 203(b), FHA 203(k)
Homeowners Education Class:
Required
Is Forgivable?
Location:
3062 Counties, 41 Cities Program is available across the United States of America except Washington State.
Income Limitations:
Yes, based on Qualifying (1003) Income Income limits from FHFA/GSE 2022 140% AMI guidelines https://ami-lookup-tool.fanniemae.com/amilookuptool/ Only occupying borrower must meet the income eligibility requirements for the DPA.
Maximum Assistance
3.5% of Purchase Price DPA is in the form of a non-repayable grant in the amount of either 2% or 3.5% of the Purchase Price.
Education Requirements Info:
At least one borrower must take either the Framework Homeownership course or any HUD approved Homebuyer Counseling Course. https://hudgov-answers.force.com/housingcounseling/s/?language=en_US
Eligible Property Types:
Single Family Detached Condo Townhome/PUD Manufactured Home
Income By Household Size:
HH1-8 $233,940 *Income limits as of 04/24/2023
Qualifying Ratios:
Housing Ratio: — Total DTI: Up To 48.99%
