fha 100% with second loan
FHA 100% Financing with Second Mortgage
Make Homeownership More Affordable
This program combines an FHA-insured first mortgage with an eligible second mortgage or down payment assistance program to help qualified buyers finance up to 100% of the home's purchase price through FHA loans.
Product Features
✅ Up to 100% financing available through an FHA first mortgage and eligible second mortgage/down payment assistance.
✅ Only one application for your home financing.
✅ Minimum FICO score: Typically 580+ (program and lender guidelines apply).
✅ Down payment assistance may cover the required 3.5% FHA down payment and eligible closing costs.
✅ Available for first-time and repeat homebuyers (depending on the assistance program).
✅ Primary residence only.
✅ Gift funds from eligible donors are permitted.
✅ Seller concessions may be allowed up to FHA limits.
✅ Fixed-rate financing available.
✅ Flexible debt-to-income ratios for qualified borrowers.
✅ Low down payment and competitive interest rates.
✅ Mortgage insurance (MIP) required under FHA guidelines.
Eligible Property Types
Single-family homes
FHA-approved condominiums
Townhomes
2–4 unit owner-occupied properties
Manufactured homes (meeting FHA requirements)
Borrower Benefits
Buy a home with little to no money out of pocket by utilizing down payment assistance.
Preserve your savings for emergencies and future expenses.
Easier qualification than many conventional loan programs, making it ideal for first-time homebuyers and borrowers with limited cash for a down payment.
Documentation Typically Required
Driver's license or government-issued ID
Last 30 days of pay stubs
Last 2 years of W-2s or tax returns (if applicable)
Last 2 months of bank statements
Proof of assets
Employment verification
Important Disclosure
Program availability, income limits, second mortgage terms, and eligibility requirements vary by state, county, and approved down payment assistance provider. Not all borrowers will qualify.
This type of financing is especially attractive to:
🏡 First-time homebuyers
👨👩👧 Families with limited savings
💼 Essential workers (where applicable)
🎖️ Qualified community workforce borrowers
💰 Buyers who prefer to keep their cash reserves after closing.
