Mortgage Officer pre-qualifies borrower to have Sapphire financing and NHF money limitation
thirteen Eligibility – Properties Properties Desired: ? Solitary Family unit members Equipment ? FHA Acknowledged Condos ? Planned Unit Developments (PUDS) ? 2-Unit properties Ineligible Services: ? 3-cuatro Tool functions ? Are formulated housing ? Money features ? Leasing Homes ? Co-ops ? Entertainment, travel, otherwise 2 nd property
fifteen SAPPHIRE System Topic System Breakdown State RestrictionAvailable regarding Claims Away from Ca, Las vegas, Arizona, Tx And you can UTAH Only! Program Products ? FHA 31 Seasons Repaired ? Va 30 Season Fixed Max LTV ? FHA – % ? Virtual assistant – 100% Max CLTVFollow FHA and you will/or Virtual assistant recommendations Limit Amount borrowed FHA: New less off $417,000 (excluding MIP) otherwise FHA allowable restriction Va: The latest less off $417,000 (and additionally VAFF) or Va allowable restriction Financing PurposePurchase OccupancyOwner Filled Advance payment Recommendations Offer : 3% or 5% offered Can be used to satisfy the borrower’s collateral share requisite on the FHA step one st Financial, settlement costs, pre-paids, Va allowable charges each Virtual assistant direction