LTVs FHA
85% + UFMIP
LTVs VA
100% + Funding Fee
LTVs Conventional
80% for single family primary residence
75% second home or investment property
DTI VA
Approve Eligible=any
Refer Eligible= 41%: 100% Residual Income
41.01%-50%: 120% Residual Income
DTI FHA
Approved Eligible=any
Refer Eligible= 580+
31/43% no compensating factors
41/47% one compensating factor
40/50% two compensating factors
DTI Conventional
Only approved eligible
50% max DTI
DTI FHA Freedom first
Approved Eligible= any
Refer Eligible=31/43%
VA credit score
550
FHA credit score
550
Conventional credit score
620
VA FF credit score
500
FHA FF credit score
500
VA MH credit score
640
FHA MH credit score
640
VA Occupancy
Owner Occupied Primary Residence
FHA Occupancy
Owner Occupied Primary Residence
Conventional Occupancy
Primary Residence/Second Home/ Investment property
VA Property Types
SFR 1-4 units/ approved PUD/ Condo/ Townhome/ Modular
FHA Property types
SFR 1-4 Units/ approved PUD/ Condo/ Townhome/ Modular
Conventional Property types
SFR 1-4 units/ approved PUD/ Condo/ Townhome
VA and FHA MH Property Types
1.) Built after 1976
2.) Double wide
3.) Permanent Foundation
4.) No Wheels
5.) Free standing deck
6.) Must own the land
VA Assumable?
Yes
FHA Assumable?
Yes
Conventional Assumable?
No
All other products besides Convt. Assumable?
Yes
VA Free and Clear?
No
FHA Free and Clear?
Yes
Conventional Free and Clear?
yes
Can only do Conventional in Texas
yes
Who can borrow for VA ?
Veteran/ Veteran and Spouse/ Surviving spouse (must be receiving DIC benefits)
Who can borrower for FHA and Convt?
Occupants
LTVs FHA
85% + UFMIP
LTVs VA
100% + Funding Fee
LTVs Conventional
80% for single family primary residence
75% second home or investment property
DTI VA
Approve Eligible=any
Refer Eligible= 41%: 100% Residual Income
41.01%-50%: 120% Residual Income
DTI FHA
Approved Eligible=any
Refer Eligible= 580+
31/43% no compensating factors
41/47% one compensating factor
40/50% two compensating factors
DTI Conventional
Only approved eligible
50% max DTI
DTI FHA Freedom first
Approved Eligible= any
Refer Eligible=31/43%
VA credit score
550
FHA credit score
550
Conventional credit score
620
VA FF credit score
500
FHA FF credit score
500
VA MH credit score
640
FHA MH credit score
640
VA Occupancy
Owner Occupied Primary Residence
FHA Occupancy
Owner Occupied Primary Residence
Conventional Occupancy
Primary Residence/Second Home/ Investment property
VA Property Types
SFR 1-4 units/ approved PUD/ Condo/ Townhome/ Modular
FHA Property types
SFR 1-4 Units/ approved PUD/ Condo/ Townhome/ Modular
Conventional Property types
SFR 1-4 units/ approved PUD/ Condo/ Townhome
VA and FHA MH Property Types
1.) Built after 1976
2.) Double wide
3.) Permanent Foundation
4.) No Wheels
5.) Free standing deck
6.) Must own the land
VA Assumable?
Yes
FHA Assumable?
Yes
Conventional Assumable?
No
All other products besides Convt. Assumable?
Yes
VA Free and Clear?
No
FHA Free and Clear?
Yes
Conventional Free and Clear?
yes
Can only do Conventional in Texas
yes
Who can borrow for VA ?
Veteran/ Veteran and Spouse/ Surviving spouse (must be receiving DIC benefits)
Who can borrower for FHA and Convt?
Occupants