Thursday, October 17, 2013

Georgia on my mind... Key highlights: - Borrower only needs $1,000 investment into the home - Maximum sales price is $200,000 - Borrower can not have owned any real estate in the last 3 years - Income limits apply (1-2 person household $59,500 limit, 3+ person household $68,500 limit) - $5,000 standard assistance and up to $7,500 through PEN and Choice programs - You can still have a non-occupant co-borrower (family member) be on the loan like a normal FHA. The co-sign income does not count toward the income cap.