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 loan programs are generally offered by Fannie Mae or
Freddie Mac. Most conforming loan programs are eligible for
Rate (30 and 15 year)
Non Income Verifying
3/1, 5/1, 7/1 and
Low Down Payment and Affordable
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.
Community Homebuyers Program
Fannie Flexible 100
Affordable Gold 97
Affordable Gold ALT 97
Freddie ALT 97
Advantage 103 - Allows
up to 103% of purchase price to be financed
- 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.
Fixed Rate (30 and 15 year)
3/1, 5/1 and 7/1
only 5/1 and 7/1 Arms
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.
A- - Lower credit scores, flexible guidelines.
- More flexible guidelines.