What is a First Time Home Buyer CHAMP loan?
First Financial Bank’s Community Housing Affordable Mortgage Program (CHAMP)provides aggressive loan-to-value options for one and two unit properties.
Benefits of a First Time Home Buyer CHAMP Loan
* Underwriting flexibilities
* No Private Mortgage Insurance (680 or higher credit score)
* More flexible credit options and use of gift funds
* 5% Down payment
* Down payment assistance programs allowed
FHA vs. CHAMP