No Down Payment Mortgage and
Low Closing Cost Mortgage Program

NO down Payment required
Buy any home for as little as $50 out of pocket at close
30 year fixed rate mortgages close to conventional rates
No Private Mortgage Insurance
Loan amount up to Appraised Value to include all closing costs and prepaid items
No minimum credit score (clean previous 12-month history)
Flexible Debt-to-Income ratios: 29% (principal, interest, taxes, insurance) 41% total debt
Can't own any other home but need not be a first-time homebuyer!
Home must be located within an eligible area. (anywhere in Dodge County)
Property must be mechanically and structurally sound and meet thermal standards
Income properties not eligible - single family only

Dodge County Income Limits:
1 person	2 person	3 person	4 person
$49,350	$56,400	$63,450	$70,500
5 person	6 person	7 person	8 person
76,150	81,800	87,400	93,050

Other No Down/Low Down...
Government Mortgage Programs

Federal VA
- No Down Payment required!!!
- VA funding fee can be financed
- 1st time homebuyers allowed and a vet can reuse their eleigibility on subsequent homes
- NO Private Mortgage Insurance
- NO income or loan limits. 41 debt to income ratio
- Property can be located anywhere
- Close to market interest rate
- Must be eligible veteran w/DD-214
- BK allowed after 2 years. Alternative credit allowed.

State VA
- Below market interest rate.
- 1st time and subsequent homebuyers allowed
- NO income limits 25/35 debt to income ratios
- NO Private Mortgage Insurance.
- 5% down payment required
- Property must be primary residence. (condo, duplex, or multi-family if owner-occupied)

WHEDA
- Below market interest rate.
- 1st time homebuyers allowed.
- 0% or 3% down payment. (can be fully gifted)
- Property must be primary residence. (can be duplex or multi-family if owner-occupied)
- Income limits will apply
- Home buyers counseling required.
- 33/38 debt-to-income ratios allowed.
- Purchase Price limitswill apply
- Credit history focus on past 12 months. Alternative credit allowed. BD 3+ years.
- Mortgage Insurance required.
- Down payment can be fully gifted f/relative, gov't agency, commmunity ord. if 660 scored.

No Downpayment & No M.I. on Non-Owner Occ

100% NOO Financing

- 80/20 Piggyback
- down to 660 credit score
- 1-2 units to 100% LTV
- 1-4 units can go to 95% LTV
- 4 tradelines with a 24 month history, 2 open, 3 year our of BK
- 6 months of PITI reserves
- 1 year same line of work
- 30 or 15 year fixed and 30/15 balloon on 2nd
- 55% debt to income ratio
- 2% seller contribution to closing costs allowed
- can go to 95% with a 620 score or 90% with a 550

95% NOO Financing

- 80/15 first @ 6.875 on first mortgage
- no mortgage insurance
- down to 620 credit score
- 1-4 units
- 3 tradelines with a 24 month history, 1 must be open
- 2 years from BK
- 6 months of PITI reserves
- 5/25 ARM on first mortgage and 20 year fixed rate on second
- 50% debt to income ratio
- 2% seller contribution to closing cost allowed.