.

Overview - Purchasing Your Home

For more info on purchasing please contact us to speak with a Purchase Consultant today: 800-245-3279 or via email at info@geqfinance.com.

FHA Purchase

  • • Minimum down payment of 3.5%
  • • 580 minimum fico
  • • 100% of gifted funds may be used for down payment, closing costs and prepaid expenses
  • • Non occupying co-borrowers allowed to help buyers qualify
  • • No minimum trade line requirements
  • • Flexible qualifying debt to Income ratios
  • • Minimal seasoning requirements for short sales, BK’s and foreclosures
  • • No additional hits to qualifying rates for first time home buyers

VA Purchase

  • • Up to 100% financing
  • • Not limited to first time home buyers
  • • No Mortgage insurance for loans over 80% loan to value
  • • Min fico 620
  • • Minimal seasoning requirements for short sales, BK’s and foreclosures
  • • Debt to income allowed up to 55%
  • • Closing costs may be paid by seller (seller credit)

Conventional Purchase

  • • (including First Time Home Buyers):
  • • Up to 97% financing available for primary residence first time home buyers
  • • Fico minimum 620
  • • Gifted funds allowed up to 100% for primary, single family residence
  • • 1 year tax return allowed for self employed borrower
  • • 85% loan to value for investment property purchase
  • • Lender paid mortgage insurance options available
  • • Debt to income ratio flexible depending on DU findings and compensating factors

Featured in: