SPECIAL CIRCUMSTANCES

Income From Future Employment.

Get your borrower mortgage approved if starting a new job

and borrower has a guaranteed contract for employment?

This is acceptable if all the following are met:

• Purchase transaction, 1 unit primary residence only
• The employment offer is non-contingent and is fully executed by the employer and accepted by the borrower. If there are contingencies to the offer, any contingencies or conditions of employment must be satisfied prior to closing.
• Employment begins no later than 120 days after signing the note.
• PITIA reserves equal to the number of months between the note date and the start date of the new employment plus reserves required by DU.

100% LTV- Zero Down Payment 

 FHA Purchase

NOT a bond program

640 Minimum FICO Score

3.5% Soft Second Mortgage

No Repayment of the soft second mortgage

If the Borrower does not exceed 115% of AMI.

For example:  Area Medium Income for Travis County Texas is $77,800

If the borrower income does exceed 115% of $77,800, the soft second has to be repaid at time of sale of property, but if borrower income does not exceed 115% of AMI, then we will allow the 2nd soft with interest rates as low as ZERO!*

Soft Second mortgage goes away after 3 years –

no repayment required if the mortgage is kept for 3 years!*