FHA Down Payment Assistance Options

---

At REDWHITE&LOAN, we work with multiple wholesale lenders offering FHA 100% down payment assistance programs designed to help eligible homebuyers purchase a home.

Available program features include:

• Minimum credit score of 600
• Debt-to-income ratios up to 56.99%
• No program-specific income limits
• No program-specific geographic area restrictions within eligible lending areas
• Access to multiple wholesale lenders offering down payment assistance

Our broker has firsthand experience successfully closing loans involving credit scores as low as 602 and debt-to-income ratios as high as 56.62%.

Program availability, assistance structure, underwriting requirements, closing costs, and individual eligibility apply. Down payment assistance does not necessarily cover all closing costs.

The 600 FICO minimum and debt-to-income ratios up to 56.99% are program-specific limits, not universal FHA requirements or guarantees of approval. Approval is subject to underwriting, applicable program requirements, and availability.

FHA-insured financing can allow a down payment as low as 3.5% for eligible borrowers. Assistance is separate: it may come from an eligible program and must be permitted with the first mortgage. Assistance does not remove the lender’s credit, income, asset or property review.

Source: HUD homeownership information.

Ask whether the assistance is a grant, forgivable second loan, deferred loan or loan with monthly payments. Understand when repayment is required, whether interest accrues, what happens if you sell or refinance, and whether you must remain in the home for a particular period.

Compare the first mortgage’s pricing with and without assistance. Less cash upfront can come with different rates, fees or future repayment obligations. Closing costs, reserves or a borrower contribution may still be required even when assistance covers some or all of a down payment.

Start with TSAHC program information and applicable local programs. Confirm the current program, approved lender participation, eligibility, available funding and repayment terms. REDWHITE&LOAN participation is not assumed.

Review Florida Housing and applicable city or county assistance. Florida Housing’s overview lists a 640 minimum score and other conditions for its programs; this is not a universal FHA rule. Its assistance is paired with its approved first-mortgage programs through participating lenders.

Review CHFA homeownership programs and applicable local programs. Confirm the approved participating lender, compatible first mortgage, education and program-specific requirements.

State and local funding or application windows can change. A program’s existence does not mean funds are currently available for your purchase or that our brokerage can originate it.

• Which lender and named assistance program are available?
• What credit, income, debt, purchase-price and geographic rules apply?
• Are first-time-buyer status, homebuyer education or occupancy conditions required?
• How much assistance is available, and how may it be used?
• Is there a payment, lien, interest charge or repayment trigger?
• What are the total monthly payment, fees and cash needed at closing?
• Are funds reserved, and what dates must be met?

REDWHITE&LOAN offers FHA 100% down payment assistance options with a minimum 600 FICO through multiple wholesale lenders. These are program-specific features; approval is subject to underwriting, applicable program requirements, and availability.

Tell us where you want to buy, your approximate budget and timing. We will explain the records needed to review the mortgage and any available assistance. If another lender already declined you, include the stated reason so we can assess it alongside your funding needs.

No. FHA mortgage insurance and assistance are separate. The lender must confirm that the proposed assistance is acceptable with your loan.

Possibly. Ask for a complete estimate, including closing costs, prepaids and any required contribution. Assistance is not a promise of a zero-cash closing.

Not necessarily. Review the actual repayment and forgiveness terms before accepting it.

Assistance may address a funding need, but it does not resolve every credit or qualification issue. See our mortgage-denial guide.

Yes. Compare the available terms and cash needs of both options. Our VA guide explains the questions to review.

Talk with Hugh: 210-264-7693 · Start your secure mortgage application. Please use the secure application process for financial records and benefit documents.

Hugh Blevins, Broker Owner · Individual NMLS 1469474 · Company NMLS 2658593. All loans are subject to eligibility, credit, income, property and lender approval. Terms and program availability may change. REDWHITE&LOAN is not affiliated with or endorsed by the Department of Veterans Affairs or any government agency.