• LTV Options
• Full Doc:  100% with a 580
• Stated:  100% with a 640

• Tradelines:  for borrowers with scores below a 620, going stated or have had a BK, trades are required.  For borrowers with over a 620, no trades are required but we like to see the borrower in file for 24 mths.  If less than 24 mths, please see AE.
• Full Doc- requires a total of 3 trades.  One trade can satisfy multiple requirements but 3 total trades are still required.
• 1 tradeline active in the last 6 mths (doesn’t need to be currently active
• 1 tradeline that has a $1500 high credit limit
• 3^rd tradeline
• 12 mth cancelled rent checks can be used for any one of the required trades.  If the borrower has money orders, please see AE for specific details.

• Stated Doc- requires a total of 3 trades.  One trade can satisfy multiple requirements but 3 total trades are still required.
• 1 tradeline active in the last 6 mths (doesn’t need to be currently active
• 1 tradeline that has a $1500 high credit limit
• 3^rd tradeline
• 12 mth cancelled rent checks can be used for any one of the required trades.  If the borrower has money orders, please see AE for specific details.
• DTI
• Up to 50.99% with disposable income of $1300 (<600) or $1000 (>600).  Borrower can also go up to 55% with $3000 in disposable income.

• Lease Purchase:
• If borrower has 12 mths cancelled rent checks, we can treat as a refinance or purchase.  If no checks, must treat as a purchase.

• Collections:
• 12 mth look back.  Accumulative total of $5000 or more within the 12 mths must be paid.

• Interest Only
• Minimum score of 620.
• Minimum loan amount of a $100,000.  If doing an 80/20, the 1^st must be at least $100,000.

• 40 Yr
• Available with at least a 580 credit score

• Rural
• 100% rural with 2 comps inside 10 miles.

• VOR
• PVOR, IVOR or letter of explanation of living arrangement (LOX).  The LOX does not need to be from a family member.

• LTV Options
• Full Doc:  100% with a 580
• Stated:  100% with a 640

• Tradelines: 
• Full Doc- requires a total of 3 trades. 
• 1 tradeline with 24 mths payments reporting
• 2 tradelines with 6 mths payments reporting
• Files with less than 12 months bk seasoning require at least one tradeline to have had a $1500 high credit.

• Stated Doc- requires a total of 3 trades. 
• 1 tradeline with 24 mths payments reporting
• 2 tradelines with 6 mths payments reporting
• Files with less than 12 months bk seasoning require at least one tradeline to have had a $1500 high credit.

• A tradeline is defined as any trade < 90 days down at time of last activity. 
• NO CURRENT ACTIVE TRADE IS REQUIRED AT ANY TIME.
• DTI
• Up to 55.49% allowed for 80/20 full doc with 580 + borrower

• Lease Purchase:
• This is not a lease purchase program.  All must be treated as a purchase and require cancelled rent checks

• Collections:
• 24 mth look back.  Accumulative total of $5000 or more must be paid.

• Interest Only
• No minimum score or loan amount.

• 40 Yr
• No minimum score or loan amount but can not be done on the 80/20.

• VOR
• IVOR, PVOR or LOX from family only.

Other Highlights

            -no minimum score for co-borrower