Blog

FHA100

FHA 100 is a new loan program featuring a down payment assistance loan of 3.5% or 5% of the purchase price. This down payment assistance loan is used to cover the minimum 3.5% down payment on an FHA loan.

This loan product is available throughout DC, MD, VA and NC.  This loan program involves two loans financed by First Home Mortgage together as a package deal:

A first loan, 30 year fixed, of up to 96.5% of the purchase price plus FHA’s mortgage insurance premium

AND

A second loan, 10 year fixed,  3.5% or 5% of the purchase price, repaid monthly and at an interest rate 2% higher than the first loan.

First Home Mortgage underwrites these loans in-house. Learn more about us

This loan program is available for houses, rowhouses and townhouses, 2-unit properties, and condominiums.

Typically the first step is setting up an initial phone call to review available loan programs and your basic finances.  The goal is to establish the best financing structure for your purchase and determine an appropriate price range for your search.  You’re welcome to set an appointment with me by clicking this link: Calendly

Pre-Qualify Now: https://ajaffe.firsthome.com/startapp

ajaffe@firsthome.com 240 – 479 – 7658