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Allied Home Mortgage Community Loans
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Program Description
| Loan to Value |
100% |
| Combined LTV (DPA Seconds) |
105% |
| Loan Term |
30 Fixed & 7/1 & 10/1 ARM |
| Loan Limits |
$417,000 Increase for 2-4 Unit |
| Property Type |
1-4 Unit |
| Documentation Level |
Full |
| Private Verfication of Rent? |
Yes |
| Refinance Rate/Term |
Yes |
| Refinance Cash/Out |
No |
| Median Income |
$76,620 1 Unit $63,850 2-4 Unit |
| Debt to Income Ratio |
45% |
| Minimum Credit Score |
600 |
| Seller Concessions |
3% |
| Alternative Credit |
Yes 4 Lines 3 If all Tier I |
| Section 8 Income |
Yes |
| Non-Occupying Co-Borrower |
Yes |
| Derrogatory Credit |
2X30 Laast 24 Mo CCCS Individual Evaluation |
| Collections |
<$5000 Remain Open |
| Bankruptcy |
Yes, with restablished credit |
| Foreclosure |
Yes, with restablished credit |
| Construction to Perm |
No |
| Manufactured Homes |
No |
| Condominiums |
Yes |
| Residency |
Perm and Non-Perm |
| Assumability |
No |
| Prepayment Penalty |
No |
| Mortgage Insurance |
20% Coverage |
| Reserves |
None |
| Seasoned Funds |
None |
| Gifts |
Yes |
| Grants |
Yes |
| Flex Income |
Yes |
| Home Buyer Education |
First Time Buyers |
For more information, call Aindrea Wilder, 614-842-6044.
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