Solita’s House Inc. (SHI) Purchase Renovation Opportunities (SHI PRO)
Special Alert
Maximum Purchase Price
$300,000
Contact Info:
http://www.solitashouse.com/ 3101 E. 7th Ave, Tampa, FL 33605 813-425-4847
Limitations
Credit Score Requirements
Minimum Credit Score: 640 Must have credit score above 640.
Deferred Payments?
No
Accepted First Mortgage Type:
Fannie Mae, In-house
Homeowners Education Class:
Required
Is Forgivable?
No forgiveness.
Location:
1 State: FL Program is available statewide in FL.
Income Limitations:
No Technically there are NO income limits for the program; even though assistance amounts are determined by income level categories: 80% or < AMI; 80.1% – 120% AMI; 120.1% + AMI.
Maximum Assistance
$15,000 Assistance amount varies, based on income catergory of applicant: up to $15,000 for 80% or < AMI; up to $10,000 for 80.1% – 120% AMI; up to 3.5% for 120.1% + AMI (Up to a max of $5000).
Education Requirements Info:
Eligible Property Types:
Single Family Detached Condo Townhome/PUD
Income By Household Size:
Buyer contribution requirement is based on income category of applicant: $1000 if income is 80% or < AMI; $2000 if income is 80.1% – 120% AMI; $3000 if income is 120.1% + AMI.
Qualifying Ratios:
Housing Ratio: — Total DTI: Up To 41% Housing payment + debt that appears in your credit report cannot exceed 41%.
