You can choose either fixed or variable.

Down payment is determined by three factors: age of
youngest borrower, purchase price of home, and current
interest rate.

The closing costs are similar to a regular FHA mortgage.
2% of appraised value of the home is paid at closing
to satisfy the up-front mortgage insurance premium
payment. This premium is financed into mortgage and

not paid out-of-pocket. There are also standard third-
party fees like title, appraisal, and recording of the lien.

These costs DO NOT get added to the down payment
number shown on the matrix on page 10. The only money
you will bring to closing is what is shown on the matrix.
(Numbers will fluctuate weekly based on the current rate).

No, you are allowed to be on title to both homes. You
can rent your existing home for cash flow or sell it after
you move into your new home. The only disqualifying
issue would be if your current home has a FHA mortgage No, you are allowed to be on title to both homes. You
can rent your existing home for cash flow or sell it after
you move into your new home. The only disqualifying
issue would be if your current home has a FHA mortgage

No, this is not a taxpayer funded program. Every person
that secures a FHA insured mortgage contributes to the
Mutual Mortgage Insurance fund. In the case of regular
FHA mortgage insured loans, the borrower contributes
part of their monthly payment to the fund. With the
Lifestyle Home Loan, the lender pays FHA .5% of the
loan balance per year (accrues onto loan balance)
which creates a continuous stream of dollars into the
insurance fund.

This loan allows financially savvy people to use their
funds for other things rather than tying up a large portion
of money inside their home. The Financial Assessment
rules make this program a perfect fit for those with good
credit and assets.