Purchases Using FHA

• 97.75 LTV
• 1 and 2 Unit Family Properties-No Reserves Needed
• 3 and 4 Unit Family Properties- Some reserves required
• 531 minimum FICO Required
• All Gifts OK
• No Credit OK - Build Alternative - 3 trades for 12 months

Refinance Using FHA

Cash - Out Refinance

• 500 Minimum FICO Score
• 95 LTV - 1 and 2 Family Units

              - No Lates On Mortgage In The Past 12 Months - No Reserves Required

• 85 LTV - 1 to 4 Family Units

              - Late Payments Acceptable (on a case by case basis) - Reserves Required

• Some Collection Accounts Can Remain Open (on case by case basis)
• Rental Income 85%
• All Mortgages Must Be Current At Time of Closing (except for FHA secure Program)
• No Non-Occupying Co-Borrower Above 85 LTV

No Cash-out Refinance

• 500 Minimum FICO Score
• 97.75 LTV - 1 to 4 Family Units

              - Late Payments Acceptable (on case by case basis) - No Reserves Required

• Non-Occupying Co-Borrower on 1 Family Unit Only (must be a relative)
• Rental Income 85%
• All Mortgages Must Be Current At Time Of Closing