Atlantic Financial Services, with offices in New Jersey and North Carolina.  Offering the Atlantic Advantage!

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Atlantic Financial Services is proud to offer Neighborhood Advantage Zero Down loan. Borrowers are eligible for these loans if their incomes do not exceed 80% of an area's median income.  There are no limits on properties located in Neighborhood Advantage low-income census tracts.

Contact us or fill out our qualification form to find out how these and our other programs can benefit you.

Neighborhood Advantage Zero Down

Loan type

30 year fixed rate
Minimum down payment 0%
Eligible transactions Purchase
-No cash-out refinance
Debt-to-income ratios 33/41
-Higher ratios available on loans with FICO scores of 680 and over
Credit history -Excellent credit required (FICO scores under 660 have greatly reduced  probability of  approval)
-Alternative credit histories acceptable with minimum of three accounts, one of  which  must be housing related (i.e., rent or mortgage)
Borrower eligibility -Borrower's income not to exceed 80% of median; no income limit if property in  Neighborhood Advantage low-income census tract
-U.S citizens, permanent resident aliens
-Cannot own other real estate at time of closing
Eligible property -1 unit, condo, PUD (no-cops, manufactured or mobile homes)
-Primary owner-occupied
Maximum Loan Amount -Conforming loan limits
-$300,000 in Hawaii
Source of closing
costs and prepaids
-Installment loan
Cash reserves -2 months from borrower's own funds
Subordinate financing -Not allowed
Homebuyer education -Not required
Delinquency counseling -Available
Seller contribution -Not to exceed 3% of the lesser of the sales price or appraised value
Mortgage insurance -33% coverage

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