2. FHA Loans - What to Know …among easiest to get Insured by US government Issued by many lenders …among easiest to get Insured by US government Issued by many lenders …among lowest rates and the most help ($) from Lenders and among the cheapest, other than VA …among lowest rates and the most help ($) from Lenders and among the cheapest, other than VA …for 1st Time Home Buyers, or poor credit, or recent bankruptcy (2 years) or recent foreclosures (3 years) …for 1st Time Home Buyers, or poor credit, or recent bankruptcy (2 years) or recent foreclosures (3 years)

3. FHA Loans - What You Need Ideally 580+ = 3.5% down from 579 to 500 = 10% down 2 yrs. for bankruptcy, 3 for foreclosure Nothing bad last 12 – 24 months Ideally 580+ = 3.5% down from 579 to 500 = 10% down 2 yrs. for bankruptcy, 3 for foreclosure Nothing bad last 12 – 24 months …Down Payment must be in bank account Can get HUD Foreclosed Homes @$100 down …Down Payment must be in bank account Can get HUD Foreclosed Homes @$100 down Must be Primary Residence You will live in Can be Single family, manufactured home, Can fix up home – 203K Rehab or Escrows Must be Primary Residence You will live in Can be Single family, manufactured home, Can fix up home – 203K Rehab or Escrows

4. FHA Loans - How Much Money? Down Payment 3.5% of House Price Money must be in your bank $ comes from you, gifts, tax return, retirements Down Payment 3.5% of House Price Money must be in your bank $ comes from you, gifts, tax return, retirements Closing can be paid by you, seller, or the Lender Up to 6% from Seller Up to 3% from Lender Closing can be paid by you, seller, or the Lender Up to 6% from Seller Up to 3% from Lender Out of Pocket @$500 to $750, via credit card Appraisal @$475 Insurance Inspections @$150 to $300 Home Inspection recommended, not required Out of Pocket @$500 to $750, via credit card Appraisal @$475 Insurance Inspections @$150 to $300 Home Inspection recommended, not required

5. FHA Loans - Other Key Facts Credit – must have 1-2 credit lines, cards, etc Scores 620+ = bigger loan Under 580 – require 10% down Credit – must have 1-2 credit lines, cards, etc Scores 620+ = bigger loan Under 580 – require 10% down Limit of $275,000 in most of Florida Poor credit may require proof of rent payment Limit of $275,000 in most of Florida Poor credit may require proof of rent payment Tougher appraisal standards Under 620 sometimes need proof of 1 yr. rent Avoid $$ (hard) deposits in bank account Tougher appraisal standards Under 620 sometimes need proof of 1 yr. rent Avoid $$ (hard) deposits in bank account