posted Mar 28, 2014, 8:34 PM by Massey Kouhssari
| New Rate Sheets available! |
| FHA Products - Follow AUS findings
- FICO's to 620
- Strict adherence to FHA guidelines with prudent underwriting
FHA High Balance - Follow AUS findings
- No doc streamlines
- FICO's to 620
- Strict adherence to FHA guidelines with prudent underwriting
HA Products - Follow AUS findings
- FICO's to 620
- Strict adherence to FHA guidelines with prudent underwriting
FHA High Balance - Follow AUS findings
- No doc streamlines
- FICO's to 620
- Strict adherence to FHA guidelines with prudent underwriting
203-K Streamline | - Max DTI 45%
- Minimum Credit score is 660
- Repairs are limited to cosmetic
- Repair estimates must include supplies and labor costs
- General Contractor must be used and must be licensed
- Cannot use more than one contractor
- Proper building permits must be acquired prior to closing
- Ineligible properties: Log homes, Condotels, co-op, manufactured, homes never completed and Mixed use
- Self Help is not allowed.
- First draw is limited to 40% and will be distributed approximately 10 days from closing
- Once loan has closed to issue the draw send bid and settlement statement to SVP of Ops
- Final draw will be issued by when all work is complete
- Maximum amount of repair including inspections and supplemental origination is $35,000
| Full 203-k | - Max DTI 45%
- Minimum Credit score is 660
- Repair estimates must include supplies and labor costs
- HUD Consultant is required which can be found at: https://entp.hud.gov/idapp/html/f17cnsltdata.cfm
- Cannot use more than one contractor
- Proper building permits must be acquired prior to closing
- Ineligible properties: Log homes, Condotels, co-op, manufactured, homes never completed and Mixed use
- Final draw will be issued by when all work is complete
- No mortgage payments financed
- 203-K addendum to the purchase contract is required
|
Manufactured Homes VA VA CASH OUT- Maximum LTV is 100% *Not available in Texas
- Minimum FICO is 680 if max financing at 100%
- AUS approval
- Maximum cash out is $75,000
- 90% LTV allowed to a 640 - 679 FICO
USDA · Minimum Fico: 620 · USDA approval required FHA #: 2790900019 VA #:6405430000 Conventional- Minimum Fico: 620
- DU & LP Accepted
- Purch / R & T Refi: Up to 95% LTV/CLTV
- Cash Out: Max 85% LTV,
- Max 75% LTV 2nd Homes & NOO
Conventional High Balance - Minimum Fico: 620 LTV's up to 90%on O/O; 700 Max LTV's of 60%
- Purch/R & T Refi: Max 90% OO Only
- Cash Out: Max 60% OO Only
- 620 Fico Required
- 2nd Home/NOO: 620 Fico Required
- Max 90%LTV on O/O and 60% on 2nd home and investment
- Eligible Prop: SFR, PUD and condo
DU Refi Plus- Minimum Fico: 580
- Terms: 10, 15, 20, 25 & 30 yr fixed;
- 5/1 & 7/1 LIBOR ARM
- Unlimited DTI
- Unlimited LTV/CLTV
- Must be DU A/E
Reverse Mortgages- Strictly follow HUD guidelines
Manufactured Homes VA VA CASH OUT- Maximum LTV is 100% *Not available in Texas
- Minimum FICO is 680 if max financing at 100%
- AUS approval
- Maximum cash out is $75,000
- 90% LTV allowed to a 640 - 679 FICO
USDA · Minimum Fico: 620 · USDA approval required Conventional- Minimum Fico: 620
- DU & LP Accepted
- Purch / R & T Refi: Up to 95% LTV/CLTV
- Cash Out: Max 85% LTV,
- Max 75% LTV 2nd Homes & NOO
Conventional High Balance - Minimum Fico: 620 LTV's up to 90%on O/O; 700 Max LTV's of 60%
- Purch/R & T Refi: Max 90% OO Only
- Cash Out: Max 60% OO Only
- 620 Fico Required
- 2nd Home/NOO: 620 Fico Required
- Max 90%LTV on O/O and 60% on 2nd home and investment
- Eligible Prop: SFR, PUD and condo
DU Refi Plus- Minimum Fico: 580
- Terms: 10, 15, 20, 25 & 30 yr fixed;
- 5/1 & 7/1 LIBOR ARM
- Unlimited DTI
- Unlimited LTV/CLTV
- Must be DU A/E
Reverse Mortgages- Strictly follow HUD guidelines
Stated Income - Alternative Documentation Home Loans & Mortgages - Qualified mortgages
- Jumbo Stated Income loans
- Credit line option
- Owner Occupied & Non Owner Occupied properties
- No 4506
|
|
|
|
