Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Is there a minimum borrower contribution requirement?

April 26, 2017borrower contribution minimum requirement

0

Posted

Is there a minimum borrower contribution requirement?

1 Answer

0

Posted

A 3% contribution from the borrower’s own funds is required for 2-unit properties. For 1-unit properties WHEDA has no requirement. However, if the loan requires private mortgage insurance, the mortgage insurer may have their own minimum borrower contribution requirement that must be met.