Loan Program Guidelines

We offer a large number of loan programs from many different wholesale mortgage lenders.  It is impossible to list all of the available loan program guidelines.  Whenever possible we will "fit" the best loan program to your borrower's application.  It is not your responsibility to determine what particular loan program will best serve your borrower, however many Certified Mortgage Counselors find it helpful to review the guidelines for our most popular loan programs.  Below you will find examples of the actual underwriting specifications for many of our loan programs.

Conforming Loans 
Conforming loan programs are generally offered by Fannie Mae or Freddie Mac. Most conforming loan programs are eligible for automated underwriting.

Fixed Rate (30 and 15 year) 
Fixed Rate Non Income Verifying
7 Year balloon
1 Year Treasury ARM
6 Month LIBOR ARM
3/1, 5/1, 7/1 and 10/1 Combo ARMs
Fannie InterestFirst

Low Down Payment and Affordable Housing Programs
Programs beginning with 'Fannie' or 'Freddie' are conforming programs.  Other low down payment programs such as the Advantage program are also available. Some low down payment programs have maximum income limitations.

Overview Matrix
Fannie 97
Fannie Community Homebuyers Program
Fannie Flexible 100
Freddie Affordable Gold 97
Freddie Affordable Gold ALT 97
Freddie ALT 97
Advantage 103 - Allows up to 103% of purchase price to be financed
Dealmaker - Allows a first and second for a total of 100% LTV

Jumbo Loan Programs
These programs are generally similar to conforming loans, but offer higher loan amounts.

Overview Matrix
Fixed Rate (30 and 15 year)
3/1, 5/1 and 7/1 Combo Arms
Interest only 5/1 and 7/1 Arms

Niche Programs
These programs span both conforming loan amounts and jumbo loan amounts.  They offer unique advantages such as low credit scores, non-income or -asset verification, or low downpayment.

Premier Low Doc - No verification of income or assets.
Advantage 103 - Finance the entire purchase price and closing costs.
Advantage Plus - Zero down with lower credit scores up to $350,000.
Fannie eZ Access - Lower credit scores, flexible guidelines.
Freddie A- - Lower credit scores, flexible guidelines.
Expanded Approval - More flexible guidelines.