FHA ,Step Up, no down payment mortgage, Huntsville AL  FHA Step Up no down payment mortgage Huntsville AL  Huntsvilles Best Realty  Huntsville AL homes for sale     


FHA Step Up, no down payment mortgage

Requirements

  • Credit score must be 620 or higher.
  • Must buy a new or existing home. Refinancing does not qualify
  • Must buy a home in Alabama and occupy it, as your primary residence.
  • Annual household income cannot exceed $97,300
  • Must complete a home ownership education course

 

The Mortgage Credit Certificate program

This program is used with the Step Up program or any other 30-year, fixed-rate mortgage. It gives a federal tax credit based on interest paid each year.

Requirements for a Mortgage Credit Certificate

  • Be a first-time home buyer (or have not owned a home in the last three years)
  • Must buy a new or existing home. Refinancing does not qualify
  • Must buy a home in Alabama and occupy it, as your primary residence.
  • Must meet federally established income and sales price limits
  • Must have a 30-year, amortizing loan..

Get a free copy of your credit report

This information is a summary only and not to be used to make financial decisions. Contact an experienced local lender for full and current information


Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information
Some Details