Minimal Docs Loan
Income & employment docs not required.
• Qualification is based on Down Payment, Reserves, and Credit Score.
• 25% Minimum Down Payment (gift funds are acceptable)
• 6 Months Reserves (740+ Credit)
12 Months Reserves (700-739 Credit)
18 Months Reserves (680-699 Credit)
24 Months Reserves (640-679 Credit)
• 640 Minimum Credit Score
• No Debt-to-Income Ratio or Employment Requirements.
• Seller Credit allowed up to 6% of Purchase Price
• HUD-approved Homebuyer Education Course is required. Takes about 5 hours online. $75.
https://www.frameworkhomeownership.org/get-started/homebuyer-education
• Loan Amounts $100,000 to $3M