This is a new program that HFG has the privilege to participate in and I am proud to be able to bring it to you here first. The program name is called "One Underwrite". It is named that because HFG believes all loans that receive an Automated Underwriting System approval deserve to be underwritten only one time, instead once for approval and another time for MI. Here are some highlights of the program:

- Minimum 620 FICO with up to 97% LTV, Primary residence, Purchase

- Minimum 620 FICO with up to 90% LTV, Second Home, Purchase

- Minimum 3% Contribution by Borrower

- No Investment Property at this time.

What does this mean for you? It means that until now you as a homebuyer had to have 720 credit to put 3% down on a home. Now you can do this if your credit is at 620 or higher. If you had a score under 720 the downpayment was anywhere between 5-10%. For second homes that have scores under 720 but over 620 can now have the ability to put down 10% instead of 15-20%.

This is great news and can open a lot of doors for people to purchse a home with less down but not have to pay for the upfront mortgage insurance that FHA requires.

Contact me today if you have questions!

Happy house hunting!