This loan has a 30 year term with a fixed interest rate.

Downpayment: The minimum down payment required is 3% of the purchase price. All of the downpayment may be gift or loan.

Closing costs can be paid by the seller by a sales concession, by a gift, or a loan.

No minimum or maximum income requirements.

Loan must receive 'Accept' via FreddieMac or FannieMae automated underwriting system.