96.5% LTV with 620 Credit Score
Purpose:
Purchase and Rate and Term Refinance
No Cash Out
55% maximum Debt Ratio DTI
Owner Occupied Only
Property Types:
SFR
Condos
4 Units
Assets:
2 Months Reserves required
Eligible Borrowers:
Military Personnel
Permanent Resident Aliens
Non-Permanent Resident Aliens
Credit Notes:
Need a minimum of two tradelines with a 24-month history
Bankruptcy requires 2 years seasoning
Foreclosure requires 3 years seasoning
Mortgage or rent history, no 30-day lates for the last 12 months
Installment Loans and Revolving Accounts, no 30-day lates for last 12 months
No open judgments for the last 24 months
No Tax liens for last 12 months
Medical Collections and Charge-offs OK
No Car repossessions in previous 24 months
Reference# 784528091614841amld