Financing option geared for homes located in certain "target" areas. Income limitations apply, however, there is no limit to loan amount as long as borrower qualifies. Program allows for financing up to 100% of appraised value ( may include Guarantee Fee, Closing Costs, and Prepaids ). A 1% Guarantee Fee applies and can be financed provided the loan amount does not exceed 100% of appraised value. Borrower must have good credit for the past 12 months. Participant can not own any other homes. No monthly Mortgage Insurance. Housing ratio can not exceed 29% of gross income and total debt ratio can not exceed 41% of gross income. Gross income is determined based on all residents of house