Just Price Loan Products
201 S. Lake Ave. Suite 800, Pasadena, CA 91101 TEL: 626-720-0860 FAX: 626-720-0898 http://www.justprice.org
Criteria
Eligible Property Types
Minimum Borrower Contributions
1-unit Property
2-unit Property
3-4 unit Property
Maximum LTV & CLTV
1-unit Property
2-unit Property
3-unit Property
4-unit Property
Maximum Loan Amount
1-unit Property
2-unit Property
3-4 unit Property
Minimum Loan Amount
Residency Status Eligibility
Loan Terms
Mortgage Insurance
Income Limits
Hawaii
New York, New Jersey, Long Island MSA
California
Subordinate Financing
Homebuyer Education
Appraisal
Maximum Debt Ratios
Credit History Guidelines
Minimum Credit Score
Notes
Purchase with Rehabilitation (Product Temporarily Suspended)
5% Down Payment including $500 of Borrower’s Own Funds
5% Down Payment including 3% of Borrower’s Own Funds
10% Down Payment including 3% of Borrower’s Own Funds
No Minimum Loan Amount
30 year, fixed rate, amortizing
Borrower paid
140% AMI
170%
165%
165%
Only JPS approved subordinate financing allowed.
A Homebuyer Education Certificate from
an approved provider must be included
in file prior to close. Landlord Education is
required for purchase transactions on 2-4 units.
Full 1004 Appraisal Required
49/49
Flexibility for credit histories. Non-traditional and
alternative credit sources accepted.
N/A
No Minimum LTV
CLTV calculated from tthe “Subject To” value from
form #1004, “Full Interior Inspection Appraisal.”
Project management must be provided by a NeighborWorks® organization
• 1-4 Unit Properties
• Condominiums
• Planned Unit Developments (PUDs)
LTV
95%
95%
90%
90%
Continental U.S.
$650,000
$650,000
$650,000
CLTV
120%
120%
120%
120%
Alaska/Hawaii
$650,000
$690,600
$834,750
• U.S. Citizens
• Permanent Resident Aliens
• Non-permanent Resident Aliens (with conditions)
Purchase
5% Down Payment including $500 of Borrower’s Own Funds
5% Down Payment including 3% of Borrower’s Own Funds
10% Down Payment including 3% of Borrower’s Own Funds
No Minimum Loan Amount
30 year, fixed rate, a