Reduced Mortgage Insurance coverage, (A lot less than FHA)
Low down payment, (Can be all a gift)
and income-source flexibility considerations that can include boarder income, and
income from an occupying co-borrower with an insufficient credit history.
Also have this loan for teachers, police officers, firefighters, health care workers, and military personnel. Expanded consideration of part-time and overtime income with 12-month history, as well as manual underwriting and gifted reserves are considered for these borrowers.
This program allows expanded income limits (115% of Area Median Income), and non-occupying co-borrowers for borrowers or family members with a disability.