CornerStone Homes: FHA Requirements

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CornerStone Homes partners with several mortgage lenders who can help with the financing of your new modular or custom site-built home in Northern, Indiana.

 

FHA Loan Requirements:

  • FICO® score at least 640 = 3.5% down payment.
  • MIP (Mortgage Insurance Premium) is required.
  • Debt-to-Income Ratio < 43%.
  • The home must be the borrower’s primary residence.
  • Borrower must have steady income and proof of employment.