Your did not make use of this particular mortgage to have another household, investment property, otherwise commercial a residential property – only domestic pick fund having no. 1 homes.
The newest FHA commonly insure mortgages your number one home. There is absolutely no criteria you need to become an initial-big date customer to make use of the newest FHA mortgage system.
Most other reduced-down-fee mortgage software could have unique qualifications requirements. Many are limited to people who have low, really low, or average money. Otherwise they show up to simply certain teams.
New USDA Rural Development financing plus lets 100% investment, nevertheless system demands you to definitely buy during the a selected outlying city and imposes earnings constraints, as well. Continue lendo “cuatro. FHA financing allow down credit scores”