OfflineApproved ALL 50 States
> 560 Credit score minimum (all three scores) - must have three scores
> 95% LTV Financing
> 5% Downpayment (sourced and seasoned minimum 30 days)
> Mortgage Insurance applies (if LTV is over 80%)
> FULL DOC only
> 50% DTI
> 2 Years continuous employment (change in industry OK)
> NO VOR
> 2 Active Trade Line Requirement (0 x 30)
> NO prepayment penalties
> 30-year fixed financing
> Rates start at 7.4%
> No seasoning on flip properties with OFI contracts (title holder/seller must have title 90 days minimum)
> Gift Letter same as assets (not verified or transferred)
> MI applies and is tax deductible
Owner /Occupied Only
Single Family Only – Duplex’s at 90%
Job time – continuous 2 years, change in industry OK. (Less than 2 years – case by case)
Value range – 75k to 417K (above on a case by case basis)
Collections, Liens and Judgements – not over total aggregate of 5K (if exceeds, can be paid down to qualify level)
BK and Foreclosure – 24 months minimum
Mortgage – 0 x 24
Seller closing concessions not to exceed 3% below 600 score – above 600 up to 6%
loan info
Do you loan 100% for mobile home parks that need to be refirbished?