DPA Edge DTI up to 57%

You do not need to be a first time home buyer to use this program

  • FHA product ONLY
  • 30 Year Fixed Mortgage Term
  • Zero dollar down payment required from buyer
  • No Income Limit
  • No First Time Home Buyer Requirement
  • Non Occupant Co Borrowers Allowed
  • Not Required to sell Current Home(FHA requirements still applicable)
  • MAX DTI upto 57% depending on FICO score
  • DPA structured as a 2nd lien that is either forgivable or repayable
    • 3.5% assistance (rounded to the next highest dollar- do not round down) of the lower of the purchase price or appraised value
      • Forgivable 2nd for income at or below 115% of AMI(search AMI by county)
        • 30-year term, forgiven after 36 consecutive timely payments on the FHA 1st mortgage
        • There are no payments on the 2nd mortgage
        • 0% interest rate
      • Fully amortizing 2nd for income above 115% of AMI with two options
        • 10-year repayment with 0% interest rate 
        • 30-year repayment with 5% interest rate
  • Minimum FICO: 660 for DTI’s over 50%
  • 1-2 units permitted(Duplexes Allowed)
  • Borrowers with credit scores between 620-639 required to take homeownership counseling: