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REALTOR HELPFUL INFORMATION

Your Trusted Mortgage Broker

FLOOD INSURANCE REQUIREMENTS

Flood insurance is required on properties located within the following Special Flood Hazard Area (SFHA) zones:

  • A

  • AO

  • AH

  • A1-A30

  • AE

  • A99

  • AR

  • AR/A

  • AR/AE

  • AR/A1-30

  • AR/AH

  • AR/AO

  • V

  • V1-V30

  • VE

DOES MY CLIENT NEED A PEST INSPECTION?

All VA, FHA, USDA loans require a pest inspection. If it is not stated on the contract on a Conventional loan, it is not required but is recommended.

Pest inspections cost between $75 - $120 and seem to be remembered last minute, these actually need to be done early in the process. You never know when you may need to execute repairs! 

MAXIMUM SELLER CONTRIBUTIONS

Owner Occupied  and Second Homes

>90% LTV = 3%

>75% LTV = 6%

≥75% LTV = 9%

Investment Property

all LTV = 2%

USDA PROPERTY ELIGIBILITY

Check to see if the property is USDA eligible:

https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

Click on "Single Family Housing Guaranteed" to see if the property qualifies and what income caps are present in that area