Home Buying in Carson>Question Details

Tomajames1, Home Buyer in Hawthorne, CA

hi, can i get assistance program that works with fha 203k or can I buy a fixer upper with schafa program or any other program out there?

Asked by Tomajames1, Hawthorne, CA Thu Oct 24, 2013

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You may qualify for 203k from a minimum 620 fico score. Your may consider streamline 203k for repairs between 5k and 35k and can close within 45 days. A standard 203k loan is from 35k and up to maximum $729,750 loan amount in L.A. County and can fund up to six months without payments while in construction. The minimum down payment is 3.5% down for the 203k programs. The only other option of low down payment is Access or CHDAP .5% half percent down payment programs which requires a minimum 580 fico score to qualify.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
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0 votes Thank Flag Link Thu Oct 24, 2013
Can I use CHDAP with the fha 203k programs?
Flag Fri Oct 25, 2013
You would really have to speak to a loan officer and provide them with your complete documentation to get pre-approved for an assistance program loan like above. No one would be able to answer your question just based on the above information.

Alex Greer
Loan Officer
NMLS #1056079

0 votes Thank Flag Link Thu Oct 24, 2013
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