FHA 100
(Down Payment Assistance)

Up to 100% CLTV with Piggyback 2nd Mortgage (96.50/100)

Program Overview

Find details on the FHA 100 (Down Payment Assistance) programs from Bankshore Mortgage Funding.

All Program Matrices

View the latest guideline information of Bayshore Mortgage Funding’s  non-delegated FHA lending products.

FHA Loan Resources

Find forms to help you submit FHA loans and market Bayshore’s programs.

FHA Lending solutions

Bayshore FHA – 100 Overlay Matrix

Minimum FICO680
AUS-DU OnlyApprove/Eligible
Maximum LTV/CLTV96.50/100%
Maximum DTI Ratio50%
Max Loan Amount Standard Per County Loan Limits (high balance loans not allowed).
County Loan Limit Look up Linkhttps://entp.hud.gov/idapp/html/hicoslook.cfm
1st Mortgage Fees$995 Underwriting, $500 Processing
1st Mortgage Eligible Term30 Year Fixed Only
Loan PurposePurchase Transactions Only
2nd Mortgage Eligible Term/Rate8% fixed on a 10 year amortization (no balloon)
2nd Mortgage FeesNo lender fees (credit, flood, appraisal, etc are all collected on the 1st)
ReservesPer AUS
Homebuyer Education:Essent Online Homebuyer education. Course is free and can be taken at: https://www.essent.us/tools-resources/homebuyer-education
Property Type Exclusions:1) Any properties not allowed by HUD.
2) 2-4 units.
3) Manufactured Homes.
Non-Occupying Co-BorrowersMax DTI 45%
Tax TranscriptsStandard: 2 years transcripts.
AUS findings: If AUS calls for tax returns, then tax transcripts are always required for the corresponding years. If AUS does not require any tax returns, then W2 transcripts are allowed on borrowers who are not self-employed or do not receive 25% or more in commission income subject to underwriter discretion.
Income LimitsNone
FTHBBorrower(s) do not have to be First Time Homebuyers
Max Seller Concessions6%
CompensationLimited to compensation on the 1st Mortgage. There is no compensation on the 2nd Mortgage.
Craftsmen home

FHA for Purchase or Refi

Bayshore Mortgage Funding offers FHA non-delegated lending solutions for a variety of purchase and refinance home loan programs.

Couple on their front porch

Lower Down Payment Options

FHA loans offer eligible borrowers the ability to purchase residential properties with as little as 3.5% down. 

Working on computer with model house on desk

Lower Credit Scores?

Find credit score requirements for our FHA non-delegated loan programs and see how FHA loans may help you qualify more borrowers.

Contact Us

Get in touch with Bayshore Mortgage Funding's Non-Delegated Lending Division.

(919) 867-1688

119 Wind Chime Ct. Unit 1 Raleigh NC 27615

M-F: 9am-5pm, S-S: Closed

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Equal Housing Lender