WHY FHA?

• Expanded Ratios vs. 28/41 Ratios
• Cash reserves not required vs. 6 to 8 mos. requirement
• Not credit score driven vs. Most approvals require 640
• Allows alternative credit vs. Loan being declined
• Citizenship not required
• No prepayment penalty - Avoid spending money on refinancing

For FHA 100% FINANCING, the buyer needs to ask for 6% seller help. Of the 6% seller assistance, the seller donates 3% towards a non-profit organization. The other 3% is applied towards the buyer's closing costs. In most cases, the 3% covers all of the closing costs.

Example:

• Sales price of $300,000
• 6% Seller Assistance = $18,000
• 3% Donation to a Non-profit = $9,000
• 3% Paid Closing Costs = $9,000
• This Equals 100% Financing!

Call Tom Ellis Today!
Phone Number: 240-388-7091