Home At Last™ Daily Rates

Assistance Options	Freddie Mac Rates Income Limit: ≤ 80% AMI View AMI Lookup Tool	Fannie Mae Rates Income Limit: ≤ 80% AMI View AMI Lookup Tool	Fannie Mae Rates > 80% AMI Income Limit: $135,000
0%	3.250%	3.250%	3.875%
1%	3.500%	3.500%	4.125%
2%	3.750%	3.750%	4.500%
3%	4.250%	4.250%	4.625%
4%	4.375%	4.375%	5.000%
5%	4.750%	4.750%	N/A

CREDIT SCORE (FICO) MINIMUMS

PURCHASE LOANS:
640 with 45% maximum debt-to-income ratio
680 with 45.01 – 50% maximum debt-to-income ratio
REFINANCE LOANS:
640 with 45% maximum debt-to-income ratio
FHA streamline refinances are permitted
VA or USDA streamline refinances are not permitted
MANUFACTURED HOMES (all loan types):
680 with 45% maximum debt-to-income ratio
Freddie Mac conventional not permitted

INCOME LIMITS (see chart at bottom of page)

FHA: $150,000
VA: $150,000
CONVENTIONAL Fannie Mae if income is over 80% AMI: $150,000
USDA: Per USDA guidelines View USDA Income Limits by County
CONVENTIONAL Fannie Mae/Freddie Mac if income is at or below 80% AMI: Refer to Income Chart below or View AMI Lookup Tool by CountyNote: AMI is the Area Median Income established by Fannie Mae and Freddie Mac.

PURCHASE PRICE LIMITS

LOAN LIMITS

The Home At Last™ program does not establish a maximum or minimum loan amount.
Lenders must comply with loan agency loan limits for FHA, VA, USDA Guaranteed or Conventional loans.
- FHA loan limit: View FHA Loan Limits by County
- VA loan limit: $548,250
- USDA Guaranteed loan limit: No limit
- Conventional loan limit: $548,250 (no jumbo loans)

PLEASE NOTE:

Down Payment Assistance is calculated as a percentage of the first mortgage loan amount
- Example: A $375,000 mortgage with 3% assistance will receive $11,250 in down payment and/or closing cost assistance
First mortgage details:
- Mortgages to purchase the home are for a term of 30-years with a fixed rate set by the Home At Last™ program
- Rates vary depending on the loan type and percentage of assistance provided
- Loan options with assistance will include a second mortgage for the amount of the assistance
Second mortgage details:
- Second mortgages for the amount of assistance provided are for a term of 3 years with no interest and no payments
- The amount of assistance is forgivable on a pro-rata basis over the first 3 years of living in the home
- Example: $11,250 in assistance results in $312.50 being forgiven each month a payment is made on the first mortgage
Home At Last™ may be used for the purchase or refinance of a primary residence.
FHA loans and manufactured home loans may not be manually underwritten.
Pair Down Payment Assistance with the Mortgage Credit Certificate program to maximize long-term affordability, increase qualifying income at the time of loan application, and lower debt-to-income ratios