15% Down with 620 score 2 Unit

This program is ideal for borrower(s) with large down payments. No mortgage insurance guidelines which allows more flexibility with credit, income, and funds. Two unit properties are eligible.

Credit score: 620 minimum
Property type: 2 Units
Occupancy: Investment
Down Payment: 15% minimum
Loan to Value: 85%     Max. CLTV: 75%
Gift Funds Not allowed
Closing cost: Seller and/or lender can pay up to 6%
Debt Ratio: 45%   with compensating factors up to 50%


Additional Notes:

  • Condos must be Fannie Mae approved
  • Lender-paid closing cost available
  • Impounds are optional
  • Unpermitted additions will not be given any value
  • Bankruptcy 4 yrs, Foreclosure 7 yrs, Short Sale 4 yrs
  • Mortgage reserves may be required
  • Flips usually one appraisal. No home inspection required

This page contains program highlights only.  See sidebar links for further information and details.

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