FHA, VA, and USDA Hightlights!

FHA HIGHLIGHTS

FHA- 580+ FICO for PURCH, RT, C/O including Flips & High Balance!

FHA - Repair Escrows OK!

FHA - 203k Full & Streamline w/ 580 FICO!

FHA - HUD REO $100 Down Homes OK!

FHA- MFG HOMES OK - 580+ FICO - 620+ FOR SINGLE WIDE  

FHA- No LTV Caps!

FHA- NO OVERLAYS!!!

FHA - YSP Credit UNLIMITED!!!

FHA- No DTI CAP - Follow AUS Findings!!!

FHA- NO Minimum Credit History or Trades with AUS Approval!

FHA- No VOR Unless Required by DU Findings!

FHA- Transfer appraisals from ANY lender/AMC OK!

FHA- Borrowers with 1 FICO OK!

FHA- Collections - HUD Guides Apply - Medical & Charge Offs Ignored!

FHA- Mortgage Late OK if AUS Approved!!!

FHA- Non-Occupant co-signers - NO MINIMUM FICO!

FHA- ESCROW STATE - Non Purchasing Spouse derog’s ignored - only affects DTI

FHA- Borrower w/ Work Permits, Non-Resident Alien OK!

FHA- 1 Day off Market for Cashout Refi! - Must be off market before date of loan

application!

FHA- Rental Income on 2-4 Units OK for FTHB!!!

FHA- Streamline - 580 Score for- Conforming & JUMBO! No Appraisal, No Income, No Credit Qualifying!!!

FHA- Streamline - Max 1x30 in past 12 mos - Cannot be late within past 90 Days!

FHA- Streamline -Investment and 2^nd Homes OK!

FHA- Streamline NO SCORE - Ignore other property

VA HIGHLIGHTS

VA- Min 580 FICO regardless of Loan Amount!

VA- MFG HOMES OK - 580+ FICO - 620+ FOR SINGLE WIDE 

VA- LP or DU FINDINGS OK!!! 

VA- NO OVERLAYS!!!

VA - YSP Credit UNLIMITED!!!

VA- No DTI CAP - Follow AUS Findings!!!

VA- NO Minimum Credit History or Trades with Approved or Refer AUS Findings!

VA- No VOR Unless Required by DU Findings!

VA- Borrowers with 1 FICO OK!

VA- NO COLLECTIONS paid UNLESS required by AUS!

VA- Up to 2x30 OK on RT, Cashout, Purchase!

VA - IRRRL 580+ W/ Appraisal 100% LTV!

VA - IRRRL 620+ W/O Appraisal ANY LTV!

VA-IRRRL 620+ W/O Appraisal HIGH BALANCE! 

VA- IRRRL Job Listed on 1003 Only

VA- IRRRL No Income OK

VA - C/O Refi's up to 100%!!

VA- Approved/Eligible - Unlimited DTI!  

VA- REFER/ELIGIBLE - 43% Max Ratio

VA- 580+ - All Purchases and all REFIs!!!

VA- No Seller Title Seasoning!!!

VA- Seller can pay all closing costs & Prepaids + ADDITIONAL 4%

VA- 1 Day Off MLS FOR all Refi's including Cashout!

USDA HIGHLIGHTS

USDA- Min 580 FICO

USDA- Order your own appraisal through any AMC

USDA- 640+ - No Overlays to GUS Findings

USDA- 640+ - No Trades/Alt Trades OK - No Collections Paid

USDA- 580-639 - Refers OK - Max 29/41 Ratio

USDA- 640+ - No Rent Verify No VOR

USDA- 640+ - No Tradeline Requirement

USDA- No Title Seasoning

USDA- Max Loan $417k - 102% LTV Of Appraised Value

USDA- .40% Monthly MI, 2% Guarantee Fee

USDA- No Asset Verification if No Funds needed to close, No reserves

USDA-Gift Funds Allowed - Max 6% Seller Concession

USDA-Ratios to 36/48 w/ 640+ and GUS Approval w/ Comp. Factors

USDA - File sent to RD within 24 Hours of UW Clear!

USDA - No Rent Verif. Required Unless we need Ratio Waiver & GUS Refer

USDA - Streamline Refi ok w/ 580+ FICO