Terminology Guide

Search for:

80% Stated Income available down to a 660 Credit Score 

 Self Employed
2 months of
reserves required

 Max loan amt = $550,000

ARM and Fixed Rated Available

Cash out Refinance OK

Owner Occupied

Fixed Income Borrowers OK

No Pre Payment Penalty Available

Tax and Insurance - Impounds Not Required

Collections OK

Cancelled Checks for Housing Payment History OK

Tradelines: Fixed Income borrowers must qualify at fully indexed rate.

3 trades; 1 at 36 months, 2 at 12 months; 1 with $1000 high credit.

Disposables: $750 for Family of 2 or less. Greater of $1,000 or $200 per family member for a family of 3 or greater [> 50 DTI requires minimum $1500 disposable income]

Collections: Any non-bankrupt account > $7,500 in the past 12 months must be paid.