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At Homestead Funding, we are always looking for new ways to help potential clients finance their dream homes. As part of our goal to help provide financing solutions for all borrowers, we offer an FHA product designed for people with less than perfect credit. Homestead now welcomes FICO scores as low as 560 for both purchases and refinances. This is great news for anyone who thinks their credit score might prevent them from getting a loan!

In addition to the liberal credit score requirements, this product has many other beneficial features! If you have limited funds, you may be need as little as 3.5% for a down payment.* As an extra bonus, gift funds are allowedᶧ and seller concessions can be made. The program also has competitive interest rates and can be used for primary 1-4 unit homes, townhouses, condos, or PUDs. 

As an FHA approved mortgage lender, Homestead Funding has helped thousands of families finance their dream homes. If you or someone you know could benefit from this product, Homestead can help! Contact us today to learn more about this program!

*LTV varies based on credit score. Loan limits vary based on county

ᶧ Gift funds may be used for the down payment, closing costs and prepaids if the donor is a relative of the borrower, a close friend or employer.

Seller concessions not to exceed 6% of the sale price, which may be applied to closing costs, prepaids, points and buydown subsidies. (3% for HUD homes used toward closing costs only).