Single Family Home 
(Primary Residence)

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2-4 Unit Properties 
(Primary Residence)

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Condos 
(Primary Residence)

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Townhomes 
(Primary Residence)

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PUDs (Primary Residence)

​

REO's (Primary Residence)

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X

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X

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"3.5% Minimum Down Payment
(Purchase)*"

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"3.5% Minimum Down Payment
(Refinance)**
Home Equity Counts***"

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"Allowed Gift Funds
(Down Payment & Cost)"

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"Mortgage Amount Based on Lower of:
After Improvement Appraised Value, or
Sales Price + Renovation Cost"

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No Maximum Renovation Amount, as long as mortgage amount within county FHA loan limits

​

Allowable Renovations

Most Anything
From major structural issues to new paint to whole room additions to landscaping, most any project type is acceptable.

Single Family Home 
(Primary Residence)

​

2-4 Unit Properties 
(Primary Residence)

​

Condos 
(Primary Residence)

​

Townhomes 
(Primary Residence)

​

PUDs (Primary Residence)

​

REO's (Primary Residence)

​

Second Homes (1 Unit)

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Investment Properties
(1 Unit)

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5% Primary Residence
10% 2nd Home/Inv. Prop.

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5% Primary Residence
10% 2nd Home/Inv. Prop.

​

​

Gift Funds Allowed on primary residences, after minimum 3% down payment contribution

​

"Mortgage Amount Based on Lower of:
After Improvement Appraised Value, or
Sales Price + Renovation Cost"

​

Maximum Renovation Amount Up to 50%of the as completed value

​

Allowable Renovations

Most Anything
From major structural issues to new paint to whole room additions to landscaping, most any project type is acceptable.

** Purchase down payment percentage is relevant to home sale price, plus renovation costs.
** Refinance down payment percentage is relevant to mortgage balance, plus renovation costs.
*** Available home equity is “after improvement” appraised value, minus mortgage balance, minus renovation costs.
**** All Renovations must be approved.