DreamBuilder vs. Traditional FHA
See how DreamBuilder compares to traditional FHA loans. We offer similar benefits with more flexible requirements for today's diverse families.
| Feature | Traditional FHA | DreamBuilder | Advantage |
|---|---|---|---|
Loan-to-Value (LTV) | 96.5% maximum | 96.5% maximum | Same high LTV |
Down Payment | 3.5% minimum | 3.5% minimum | Same low down payment |
Credit Score | 580+ required | 580+ with alternatives | More flexible credit options |
ITIN/DACA | SSN required | ITIN/DACA eligible | No SSN requirement |
Income Documentation | Traditional only | Multiple options | Flexible documentation |
Program Type | Traditional mortgage | Lease-to-own | Build equity while renting |
Why Choose DreamBuilder FHA Alternative?
Our program offers the benefits of FHA financing with additional flexibility that makes homeownership accessible to more families.
Government Entity Backing
Secure program with government entity backing similar to FHA
96.5% LTV Financing
Maximum financing with only 3.5% down payment required
Flexible Credit Requirements
580 credit score minimum with alternative credit options
ITIN/DACA Eligible
No SSN required - ITIN and DACA recipients welcome
Multiple Income Options
Bank statements, P&L, 1099s, and traditional documentation
Equity Building
Build equity while renting, position for traditional financing
FHA Alternative Eligibility
Our flexible eligibility requirements make this FHA alternative accessible to families who may not qualify for traditional FHA financing.
Credit Requirements
- Minimum 580 credit score
- Alternative credit sources accepted
- No recent bankruptcies (within 2 years)
- No outstanding tax liens
Income Requirements
- Stable income for 2+ years
- Sufficient income to cover payments
- Multiple income documentation options
- Self-employed income accepted
Identity Requirements
- Valid government-issued photo ID
- ITIN or SSN
- DACA documentation (if applicable)
- Proof of legal residency
Property Requirements
- Primary residence only
- Single-family homes, townhouses, condos
- Property must meet safety standards
- Homeowners insurance required
5-Step FHA Alternative Process
Our streamlined process makes it easy to access FHA-like benefits with more flexibility. Each step is designed to be simple and transparent.
Initial Consultation
Discuss your homeownership goals and FHA alternative options
Program Qualification
Complete preliminary qualification assessment
Documentation Collection
Gather and submit required documentation
Property Selection
Work with our team to find your ideal property
Program Approval
Final approval and lease-to-own agreement
Frequently Asked Questions
Common questions about DreamBuilder FHA eligible financing.
How does DreamBuilder compare to traditional FHA loans?
DreamBuilder offers similar benefits to FHA loans (96.5% LTV, 3.5% down) but with more flexible requirements for ITIN/DACA recipients and alternative credit sources.
Do I need a Social Security Number?
No, DreamBuilder accepts ITIN and DACA documentation, making it accessible to more families than traditional FHA loans.
What income documentation is required?
We offer multiple options including traditional W-2s, bank statements, P&L statements, and 1099s - more flexible than standard FHA requirements.
Is there government backing?
Yes, DreamBuilder has government entity backing, providing security similar to FHA programs.
Can I build equity like with a traditional mortgage?
Yes, our lease-to-own program allows you to build equity while renting, positioning you for traditional financing later.
What credit score do I need?
Minimum 580 credit score, but we also accept alternative credit sources like utility bills and rent payments.