Program Highlights

FHA, FHA High Balance

• Underwritten to DU and LP Findings and HUD 4000.1 for case numbers issued after Sept. 14, 2015
• Conforming and HB limits (per max county loan limits)
• 1 FICO score OK
• Score 500-579 – max 90% LTV
• Score 580+ – maximum LTV allowed
• No trade-line requirements
• Transferred appraisals OKMax Age of documents = 120 days (measured from disbursement date)

Non Credit Qualifying FHA STREAMLINE

• No FICO required – (use credit score “0” for pricing)
• No Income
• No Appraisal
• Mortgage Only Credit Report on subject property only
• Ignore foreclosures and mortgage rates on other properties owned
• Non Owner Occupied (NOO) OK
• Condos acceptable

VA, VA High Balance

• Underwritten to DU/LP findings and VA Handbook
• 1 FICO score OK
• Up to 100% LTV – Purchase, Rate and Term and Cash out
• No trade-line requirements
• Ignore mortgage late payments, foreclosures, BKs and short-sale of non-borrowing spouse
• Transferred appraisals OK
• VODs only OK
• Max Age of documents = 120 days(measured from Note date. *180 days on new construction)

VA IRRRL

• No Income
• No min. FICO required (use credit score “0” for pricing purposes)
• No Appraisal or AVM
• Ignore foreclosures and mortgage late payments on other properties owned
• Non Owner Occupied (NOO) OK
• Manufactured Homes OK (Doublewide)

Conventional Loans

• FNMA/DU – No strict aggregator overlays
• Minimum FICO score: 620
• LP or DU Approved/Eligible Required
• Accept/Eligible required
• SFR, 2 – 4 units, Condo/PUD
• Purchase, Rate & Term, Cash-Out
• Max. LTV per FNMA Eligibility Matrix

Conventional High Balance

• Min. Loan Amount $417,001
• DU Approve/Eligible Required
• MI restrictions apply to LTV’s > 80%
• Max. LTV per FNMA Eligibility Matrix

Freddie Mac Super Conforming

• LP Accept Findings
• 15, 20, 25, & 30 year Fixed Rate Mortgages; 5/1, 7/1, 10/1 ARM
• Non-Occupant Co-Borrowers allowed
• Min. 620 FICO score
• Primary, Secondary, Investment Properties
• 1-4 units, Leasehold Estates, Modular Pre-Cut, PUD, Condos
• 45% Max. DTI

USDA

• Minimum FICO Score: 580
• Purchase: 100% LTV of Appraised value
• *LTV may exceed 100% in some cases
• R/T: 100% LTV (only to pay off existing USDA lien)

Texas 50(a)(6)

• Texas Section 50(a)(6) FIRST Mortgage Loans Acceptable
• 1 Unit SFR – attached and detached (including eligible condos, PUDs and off-frame modular homes)
• DU or LP findings allowed
• Minimum 620 FICO Score
• 10, 15, 20, 25, and 30 year Fixed Rate Mortgages