For FHA financing, the minimun down payment it 3.5%. If the borrower is receiving a gift, it must be from a family member or someone with a demonstrated relationship to the borrower.
At Prospect Mortgage, our minimum credit score for FHA financing is currently 580+. The borrower may receive a gift for the entire 3.5%.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia