C&F Mortgage

C&F Mortgage offers the VHDA FHA Plus program which is actually up to 101.5% financing!

Example:

Sales Price: $225,000

First Loan Amount: $220,924 (Including Mortgage Insurance Premium)

Second Loan Amount (5% of sales price) : $11,250

The second loan is intended to cover the 3.5% down payment and a portion of the closing costs / prepaid items.

In this example if the seller pays $4,000 towards closing costs and the borrower puts down a $500 deposit, he or she will not owe anything at closing!

Max DTI is 49.99

***VHDA just recently raised the income limits to $70,000 and sales price limits to $325,000 for Richmond***

Call or email if I can assist with any questions or issuing a pre-approval letter for this program