Sapphire FHA Down Payment Assistance
- Provides up to 4.5% in down payment assistance in ALL Florida Counties for FHA Loans.
- Down Payment Assistance is forgiven at the Closing table.
- The buyer does not need to be a first-time Home Buyer.
- Must be a primary residence, no Investors.
- 30-year fixed term.
- Competitive Mortgage Interest rates.
- Can be used with VA Mortgages (4.5%), FHA Mortgages (4.5%) and USDA Mortgages (3%).
- The borrower must have at least 1 active trade lines.
- Supplemental Alternative credit allowed.
- Maximum Income Limits set at 115% of Florida County where the house is located.
- Maximum purchase price of FHA limits in the area purchased.
- Generally, the lesser of $417,000 (not including MI) or maximum loan amounts permitted by HUD.
- Lender credit not available.
- Minimum middle FICO credit score is 620.
- Maximum debt-to-income is 50%.
- No Prepayment Penalty Fee if the loan is paid out early.
- No cash back to Borrower/Buyer.
- The seller can contribute up to 6% towards Buyers Closing Costs.
- No 203k Renovation loans allowed.
If you are looking to buy or sell your home, contact us today. We save our clients money and sell our homes for top dollar.
Phone: (516) 909-9213 or at (813) 699-1800