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Broadview Community Access | BCA

The Broadview Mortgage Community Access loan is a special conventional mortgage that offers flexible qualifying guidelines and reduced mortgage insurance rates for low to moderate income home buyers.

Community Access | Borrower Requirements

  • Owner Occupied only
  • Minimum 620 Credit Score up to 90% LTV
  • Income limits do apply
  • 3% minimum down payment (Minimum 680 Credit Score)
  • No minimum borrower contribution required
  • Approved buyer assistance can be used up to 103%
  • Limited risk based fees, lowering closing costs for lower credit scores
  • 45% Debt to Income (DTI) ratio / 50% DTI allowed with compensating factors

*Loan approvals run after November 11st, 2013 require a minimum 5% down payment.  Pre-approvals run prior to this date may still be valid until further notice.  Be sure to check with your mortgage professional to update your approval!

 Community Access | Loan Terms

  • 30 Year Fixed
  • Significantly reduced private mortgage insurance rates on Conventional 30 Year Fixed

Community Access | Property Requirements

Properties eligible for Conventional finaning include:

  • 1 family residence – single family residence (SFR)
  • 2 family residence – duplex (owner must occupy one unit)
  • Single family Condominium – with HOA approval
  • Single family Townhouse – with HOA approval

Community Access | Loan Limits

Conventional loans offer Standard Balance and High Balance financing options.  These loan limits are standard across the board regardless of State or County.

  • Standard Balance Conforming Loan Limit:  $417,000
  • No Purchase Price Limits

Community Access | Income Limits

Southern California Income Limits*

  • Los Angeles County – $98,140
  • Orange County – $98,140
  • San Diego County – $106,260
  • San Bernardino County – $88,620
  • Riverside County – $88,620

*Call or complete buyer assistance form below for income limits for California Counties not listed here

Community Access | Waiting Periods after Credit Hardship

  • 4 Years from Discharge of Bankruptcy under Chapter 7
  • 2 Years from Discharge of Bankruptcy under Chapter 13
  • 7 Years from Foreclosure
  • 2 Years from Short Sale or Deed in Lieu of Foreclosure with minimum 680 credit score and 20% down payment
  • 3 Years from Short Sale or Deed in Lieu of Foreclosure with minimum 680 credit score and 10% down payment

Community Access: Program Guide

Program Community Access Program
Conventional 30 Year Fixed
Base Program Option:
High Balance 30 Year Fixed
Base Program Option:
FHA 30 Year Fixed
Eligibility Public Employees: The borrower must be an employee of a public agency or a member of the following: California Public Employees’ Retirement System (CalPERS), Legislators’ Retirement System (LRS), Judges’ Retirement System (JRS).Teachers: The borrower must be an employee of a California public school district, California State University or California community college and/or a member of the California State Teachers’ Retirement System (CalSTRS).  Exceptions apply, please inquire about your profession.
Down Payment Requirement 3.00% 10.00% 3.50% and Gift Funds Allowed
Maximum Loan Amount $417,000 $625,500 $625,500
Minimum FICO 680 720 640
Mortgage Insurance Lender Paid Mortgage Insurance Option (No monthly PMI Payment) UPMIP & MMI per FHA Guides
Reduced Rate & Fees Discounted Rates & Reduced Pricing for California educators and public school employees
Down Payment Assistance Yes Up to 3.00% CalHFA CHDAP available to qualified homebuyers
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