SoCal Home Loans in Spanish & English
Edie Ramos-Moore
Edie Ramos-Moore
949-300-6772
edie@ediemooreloans.com
HighTechLending NMLS# 236041
2030 Main St. Suite 350
Irvine CA 92614


Equal Housing Lender
203K FHA Mortgage

This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/10.