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.
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All Program Matrices
View the latest guideline information of Bayshore Mortgage Funding’s non-delegated FHA lending products.
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FHA Loan Resources
Find forms to help you submit FHA loans and market Bayshore’s programs.
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FHA Lending solutions
Bayshore FHA – 100 Overlay Matrix
| Minimum FICO | 680 |
| AUS-DU Only | Approve/Eligible |
| Maximum LTV/CLTV | 96.50/100% |
| Maximum DTI Ratio | 50% |
| Max Loan Amount | Standard Per County Loan Limits (high balance loans not allowed). |
| County Loan Limit Look up Link | https://entp.hud.gov/idapp/html/hicoslook.cfm |
| 1st Mortgage Fees | $995 Underwriting, $500 Processing |
| 1st Mortgage Eligible Term | 30 Year Fixed Only |
| Loan Purpose | Purchase Transactions Only |
| 2nd Mortgage Eligible Term/Rate | 8% fixed on a 10 year amortization (no balloon) |
| 2nd Mortgage Fees | No lender fees (credit, flood, appraisal, etc are all collected on the 1st) |
| Reserves | Per 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-Borrowers | Max DTI 45% |
| Tax Transcripts | Standard: 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 Limits | None |
| FTHB | Borrower(s) do not have to be First Time Homebuyers |
| Max Seller Concessions | 6% |
| Compensation | Limited to compensation on the 1st Mortgage. There is no compensation on the 2nd Mortgage. |
FHA for Purchase or Refi
Bayshore Mortgage Funding offers FHA non-delegated lending solutions for a variety of purchase and refinance home loan programs.
Lower Down Payment Options
FHA loans offer eligible borrowers the ability to purchase residential properties with as little as 3.5% down.
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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