KNOWLEDGE CENTER

103% Financing for Borrowers with Poor Credit - Otherwise know as the FHA loan. When purchasing a home, ask your mortgage professional if going FHA is right for you. FHA loans are great for First Time Home Buyers. There is no credit requirement so you can have poor credit and still qualify. The best part, you can buy a home with only 3% down, 97% financing, and get a 6% sellers concession to use towards closing costs (hence: 103% financing).