Neighborhood Housing Services of Greater Berks, Inc.
FHA Closing Cost Assistance Loan
Program Guidelines Checklist For Lenders
Customer Name:_______________________________ Date________
First Time HomeBuyer
Approved by 1st lender- FHA Certified
Maximum Purchase Price-FHA guidelines apply
Single family, owner occupied, primary residence located in
Berks County (township, borough or Reading city)
Meets HUD household income guidelines (see reverse)
Total debt to income ratio does not exceed 41% of borrower’s total
monthly gross income
Unpaid collections not permitted
CLTV does not exceed 100% of purchase price plus closing costs;
110% for 203K loans
Buyer minimum investment 3.5%
Property condition meets applicable local ordinance and FHA
Appraisal
Net income budget with minimum $50 residual income (determined
by NHS)
Other related information:
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
6/10
6/10