The Federal Savings Bank
TFSB Down Payment Assistance Tools
TFSB 100- A TRUE No Money Down Program
Buyer will receive 3.5% grant covering the Minimum Investment required by FHA. Customer needs $0 to qualify. The customer will most likely need earnest money, but will receive it back at close if they have closing costs paid for by seller.
No Income restrictions- Buyers can make a lot of money.
No geographic restrictions- Program is throughout the USA
DTI as high as 55%- Can help when qualifying buyers with high debt load but can pay the bill.
Up to $7,500 towards closing costs
Borrower income up to $74,000
DTI under 45%
Borrower must have at least 660 score
*$150,000 loan at 3.5% (3.612% APR)
Borrower must provide $1,000 of their own money- seasoned 60 days
Federal Home Loan Grant
$4,500 towards closing costs
Low income requirements (around $40,000 annually)
Limited time offer
$2,000 refund on R E tax bill as long as borrower lives in the home
Must be in Chicago, and in targeted area
Income not to exceed $91,000
Chicago Infrastructure Trust Grant
Up to 7% of the sale price
Income not to exceed $135,000
Credits directly from our Bank
We can have a maximum total of 6.5% in credits
3% or 3.5% gift funds- This is easier than you might think
Mortgage Banker, NMLS# 171067 direct : (312) 509-4365
e-fax : (312) 212-5619
cell : (773) 744-7755
See what Frank Montro thinks about Tim:
Terms and conditions may vary. Subject to underwriting approval.
*The initial interest rate and monthly payment are subject to adjustment. The first adjustment will occur at the end of the Initial Interest Rate period set forth above and annually thereafter. Interest Rate and corresponding monthly payment are based on ARM index and margin in effect in the last 30 days. The results provided above are intended for comparison purposes only and accuracy is not guaranteed. The Loan Comparison does not ensure the availability of, or your eligibility for, any specific product offered by any particular lender and/or is not a commitment to lend. Rates are subject to change and are based on credit score. The APR is estimated. FHA examples above do not calculate low or high closing cost factors and may not reflect the maximum LTV financing available in your state. Maximum loan amounts for your county should be verified at http://www.hud.gov
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