LoanStream Mortgage (LSM) FHA MaxOne Down Payment Assistance (DPA)
Special Alert
Maximum Purchase Price
Inquire for Details
Contact Info:
https://loanstreamwholesale.com/ 19000 MacArthur Blvd, Suite 200, Irvine, CA 92612
Limitations
Credit Score Requirements
Minimum Credit Score: 600 Must meet FHA credit standards per Handbook 4000.1. Borrower whose only credit history is built from ‘Authorized User’ account is not eligible
Deferred Payments?
Yes
Accepted First Mortgage Type:
FHA 203(b), FHA 234(c)
Homeowners Education Class:
Required
Is Forgivable?
Forgivable option is forgiven after 10 years.
Location:
47 States Available across the nation except for MA, ME, NY and WA.
Income Limitations:
No
Maximum Assistance
3.5% of Purchase Price Up to 3.5% of the Sales Price or Appraised Value, lesser of. AZ & SC: Minimum 2nd TD Loan Amount of $5,000.00
Education Requirements Info:
At least one borrower must receive housing counseling from a HUD-approved non-profit housing counseling agency prior to closing/Note date. https://www.hud.gov/program_offices/housing/sfh/hcc/hcc_home
Eligible Property Types:
Single Family Detached Condo Townhome/PUD Manufactured Home
Income By Household Size:
None Borrower’s minimum contribution of $0.00
Qualifying Ratios:
Follow AUS – Approved/Eligible findings.
