560 FICO Product - Owner Occupied Only
Help for Buyers is Now Here!!
Available in ALL 50 States
This is one loan - not a 1st and 2nd combo
560 Credit score minimum (all three scores)
95% LTV Financing Available
5% Down payment
(sourced and seasoned minimum 30 days)
Mortgage Insurance applies (if LTV is over 80%)
FULL DOC only
50% Debt To Income-owner occ
40% Debt to Income-investor occ
2 Years continuous employment (change in industry OK)
2 years minimum of monthly income, assets
and Housing expenses
(even if its a stated income/verified assets request)
NO Verification Of Rent
2 Active Trade Line Requirement (0 x 30)
NO prepayment penalties
30-year fixed financing
No Debt over $5000
Minimum Loan amount $75,000
Gift Letter same as assets (not verified or transferred)
Collections, Liens and Judgments –
not over total aggregate of 5K (if exceeds, can be paid down to qualify level)
Discharged BK and Foreclosure – 24 months minimum
Mortgage – 0 x 24
Seller closing concessions not to exceed 3%
(Community Property States
such as Arizona, California, Idaho, Louisiane,
Nevada, New Mexico Texas,
Washington or Wisconsin
Both Husband and Wife need to be on the
Credit Application and a Credit Report for Each.
If one spouse does not qualify they will not
go on the loan, but they will go on the Deed or Mortgage
as an interested party, if the other spouse
can qualify)
Judgments or liens on either party will need to be paid, satisfied ord released
before taking title to ANY property.
To begin Pre-Approval Process see information in next section
If you have any questions please feel free to complete form below.
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