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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.

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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! 

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MAXIMUM SELLER CONTRIBUTIONS

Owner Occupied  and Second Homes

>90% LTV = 3%

>75% LTV = 6%

≥75% LTV = 9%

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Investment Property

all LTV = 2%

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USDA PROPERTY ELIGIBILITY

Check to see if the property is USDA eligible:

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

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

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Realtor Helpful Hints: My Experience
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