Key Features of Our USDA Loan Products
- Purchase and refinance
- 0% Down Payment required
- FICOs down to 580
- 1% up-front guarantee fee
- Monthly 0.35% Annual fee (or the outstanding balance) for all transactions
Key Features of Our FHA Loan Program
- 550 Minimum credit score allowed with 15% down payment
- Maximum loan amounts are based on the county/state location of the subject property - determined from HUD’s website
- 3.5% Down Payment required
- HUD REO properties with escrow holdbacks allowed
- Tax transcript not required for W-2 wage earners (see AllRegs for detailed exclusions)
- Manufactured housing allowed
- FHA 203(h) loans (disaster recovery)
Key Features of Our VA Loan Program
- Standard loan amounts (up to $766,550)
- 0% Down Payment required
- A minimum credit score of 580
- No monthly MI—one-time up-front funding fee at closing
- Option for seller to pay all closing costs
- 1-4 unit primary residents
- Fixed rate and adjustable-rate options
- Maximum debt-to-income ratio of 50% for manually underwritten loans
Key Features of Our Conventional Loan Products
- Minimum 3% Down Payment for first time homebuyers
- Cash-out refinance LTV to 80% (1-unit primary residence)
- Conforming and high balance/super conforming
- Minimum risk score of 620 unless a higher score is required by DU/LPA
- Investment property: No owner occupancy requirements
- When no borrower(s) on the mortgage has a credit score, the mortgage may be considered
- 1-4 units, warrantable condo, PUD, townhouse, Co-ops, and manufactured housing
- Primary residence: Must be owner occupied
- Secondary/vacation home: Must be occupied by the borrower for some portion of the year
Key Features of Our Premier Jumbo Loan Product
- Maximum 89.99% LTV/CLTV (Purchase, Rate/Term, Up to $1.5 milion, 1 Unit, Single Family, includes PUD/Condo/Co-Op, Minimum 740 Credit Score)
- No Mortgage Insurance required
- Fixed Rate, 30-year term up to $2.5 million
- No maximum cash out amount on Primary and Second Home Cash Out Refinances
- 1-2 Unit Primary Residence (includes PUD/Condo/Co-Op)— Purchase & Rate/Term
- 1 Unit Primary Residence (includes PUD/Condo/Co-Op)— Cash Out Refinance
- 1 Unit Second Home (includes PUD/Condo/Co-Op)—Purchase, Rate/Term & Cash Out (Co-Op not eligible for Second Home Cash Out)
- 1-4 Unit Investment Properties (includes PUD/Condo)—Purchase & Rate/Term Refinance & Cash Out
