Page 5 - HBREA | Realtist - Week 2021

Minimum Down Payment Options

Program HOME Product Fixed Loan Options LPMI Fixed Loan Options FHA Professionals

• 3% Down Payment • 3% Down Payment • 3% Down Payment • 3.5% Down Payment • 5% Down Payment
LTV • 97% LTV (True FTHB’s
• 97% LTV or HomeReady®) • 97% LTV (True FTHB’s) • 96.5% LTV • 95% LTV

Mortgage
Insurance No PMI MI Required Lender Paid MI MI Required No PMI

Debt To Income 43% DTI Refer to MBO Refer to MBO Refer to MBO Refer to MBO

Minimum Down
Payment for First- Minimum Down Payment
time Homebuyers or Minimum Down & Flexible credit Minimum down-payment
Up to $3,500 towards HomeReady requirements
Special Features closing cost and other Payment for First-Time for loan amounts
Homebuyers & No
up to $1,250,000
assistance Up to $2,500 towards Up to $3,500 towards
closing cost and Monthly MI closing cost and other & No monthly MI
other assistance for
Minimum Credit 640 620 620 640 700
needs as a busy attorney for the purchase of your primary residence.
Score
Conforming Limits Conforming Limits
Max Loan Amount FHA Loan Limits (restrictions apply to (restrictions apply to FHA Loan Limits $1,750,000
high balance loans) high balance loans) • Financing available with low down payment – up to $1,250,000

No Limit >90% LTV/CLTV: 3% >90% LTV/CLTV: 3% No limits • Generous loan-to-value ratios for loan amounts up to $1,750,000
Seller Concessions (not to exceed closing costs LTV/CLTV: 6% LTV/CLTV: 6% 6% (not to exceed closing costs
and pre-paids) 75% LTV/CLTV: 9% and pre-paids) • Private mortgage insurance is not required – potentially save thousands over the life of the loan
• Single family homes are eligible. Condominiums are allowed with restrictions.
Occupancy Owner Occupied Owner Occupied Owner Occupied Owner Occupied Owner Occupied
• Student loans that are deferred for 12 months are not counted in qualifying ratios
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tance. For FHA loans, the property must either be located in a FFIEC low or moderate income census tract, or the income of all applicants on the loan must be less than 80% of the FFIEC Median Family Income. To view census tract and income
for HomeReady. A lender credit of $500 will be applied at closing and underwriting and processing fees will be waived (an $1,100 value). Additional assistance is applied via a price adjustment and varies by product and loan size. For Purchase •
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Other restrictions
apply. Talk with a BBVA mortgage expert for details. All loans subject to program eligibility, underwriting and collateral requirements and approval, including credit approval. HomeReady is a registered trademark of Fannie Mae. © 2020 BBVA
USA Bancshares, Inc. BBVA USA is a Member FDIC and an Equal Housing Lender. BBVA and BBVA Compass are trade names of BBVA USA, a member of the BBVA Group. Rev. 05/2020 / #890790
We will go out of our way to meet the demands of your busy schedule and make sure the mortgage
loan process is a positive one.
890790 - Min Down Payment Flyer v2.indd 2 6/4/20 9:21 AM

BBVA, give us a call today.

Darryl Bowles
NMLS #1609563
7700 West Bellfort, Houston, TX 77071
Office: 713.867.3804
Cell: 281.658.8933
darryl.bowles@bbva.com

All loans subject to underwriting review. All loans subject to eligibility, collateral, and underwriting requirements, and approval, including credit approval.
© 2019 BBVA USA Bancshares, Inc. BBVA USA is a Member FDIC and an Equal Housing Lender NMLS #402936. BBVA and BBVA Compass are trade
names of BBVA USA, a member of the BBVA Group. Rev. 06/2019/ #440879-D_20106