El Paso Program Highlights

EL Paso, Turnkey | At-A-Glance

EL Paso, Turnkey Mortgage Origination | At-A-Glance

AVAILABLE PROGRAMS Turnkey Plus Program
ELLIGIBLE AREA All of El Paso County, Colorado including the City of Colorado Springs
ELIGIBLE BORROWER(S) No first-time buyer requirement.
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS income Limits
PURCHASE LIMITS Must include everything paid by the buyer or on the buyer’s behalf. There are no purchase price limits in this program. Follow Agency (FHA, USDA-RD, VA and Freddie Mac) guidelines for maximum loan limits.
TIMELINE REQUIREMENTS 60 calendar days from loan reservation to loan purchase. Underwriter Certitied anytime prior to closing.
HOMEBUYER EDUCATION Homebuyer Education
CO-SIGNORS Co-Signors
PROGRAM GUIDELINES Guidelines
Participating Lenders Participating Lenders

Today’s Rates & Offerings [ Business Days 8:00am – 6:00pm MT ]

El Paso, Turnkey Mortgage Origination | Rates & Offerings

GOVERNMENT

El Paso Turnkey Mortgage Origination Program


FHA, VA, USDA-RD, Freddie Mac HFA Advantage


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income limits
  • No Purchase price limits (Use Agency loan limits)
  • 60 calendar days from loan reservation to loan purchase
  • 1003 Credit qualifying income
  • Assistance offered as a 30-year deferred second mortgage
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for FHA, VA and USDA-RD is 660
  • Minimum FICO for Freddie Mac is 640
  • Eligible area: EL Paso County
Offering FICO DPA Lock Rate
FHA, USDA, VA 660 0% 6.500%
FHA, USDA, VA 2% 6.625%
FHA, USDA, VA 3% 7.125%
FHA, USDA, VA 5% 7.750%
CONVENTIONAL – HFA Advantage – FREDDIE MAC 80% AMI and below

El Paso Turnkey Mortgage Origination Program


FHA, VA, USDA-RD, Freddie Mac HFA Advantage


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income limits
  • No Purchase price limits (Use Agency loan limits)
  • 60 calendar days from loan reservation to loan purchase
  • 1003 Credit qualifying income
  • Assistance offered as a 30-year deferred second mortgage
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for FHA, VA and USDA-RD is 660
  • Minimum FICO for Freddie Mac is 640
  • Eligible area: EL Paso County
Offering FICO DPA Lock Rate
Freddie Mac 80% AMI 640 0% 6.500%
Freddie Mac 80% AMI 2% 6.625%
Freddie Mac 80% AMI 3% 6.875%
Freddie Mac 80% AMI 4% 7.375%