First Time Homebuyer

580 credit score - Primary borrower

The co-borrower must have at least a 560 credit score and also must not have more than 42% of total income.

Income documentation type: Full Doc

Maximum LTV:

  • Purchase loan - 80% LTV
  • Rate & Term refinance - 80%
  • Cash Out refinance - 75%

Owner Occupied:

Maximum Loan Amounts:

  • $800,000

Cash Out

  • $300,000 to 75% LTV
  • $200,000 to 80% LTV

Maximum DTI - 45%

Reserves Requirement

  • Owner occupied - 3 months' principle tax and property insurance PITI plus an additional 3 months' PITI for every other real estate owned.

Credit Notes

  • Bankruptcy history: 1 year seasoned
  • Foreclosure history: 1 day
  • Short Sale history: 1 day
  • Loan Modification history: 1 day

Credit Depth:

  • Active Tradelines - 3
  • Total Tradelines - 6
  • Credit History - 6 years
  • Judgments and collections may be required to be paid-off before the closing date including tax liens and back-child support.

Permanent resident aliens OK