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
- Purchase loan - 80% LTV
- Rate & Term refinance - 80%
- Cash Out refinance - 75%
Maximum Loan Amounts:
- $300,000 to 75% LTV
- $200,000 to 80% LTV
Maximum DTI - 45%
- Owner occupied - 3 months' principle tax and property insurance PITI plus an additional 3 months' PITI for every other real estate owned.
- Bankruptcy history: 1 year seasoned
- Foreclosure history: 1 day
- Short Sale history: 1 day
- Loan Modification history: 1 day
- 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