Program Guidelines

Primary Residence

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 424,100 973 n/a 620
SFR/Condo 424,100 95 95 620
2-Unit 543,000 80 80 620
3-Unit 656,350 80 80 620
4-Unit 815,650 80 80 620
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 424,100 95 95 620
2-Unit 543,000 80 80 620
3-Unit 656,350 80 80 620
4-Unit 815,650 80 80 620
Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 424,100 80 80 620
2-Unit 543,000 75 75 620
3-Unit 656,350 75 75 620
4-Unit 815,650 75 75 620

Second Home

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 424,100 90 90 620
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 424,100 90 90 620
Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 424,100 75 75 620

Investment Property

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 424,100 85 85 620
2-Unit 543,000 75 75 620
3-Unit 656,350 75 75 620
4-Unit 815,650 75 75 620
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 424,100 85 85 620
2-Unit 543,000 75 75 620
3-Unit 656,350 75 75 620
4-Unit 815,650 75 75 620
Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 424,100 75 75 620
2-Unit 543,000 70 70 620
3-Unit 656,350 70 70 620
4-Unit 815,650 70 70 620
Risk-Based Add-OnsAdded to Points or Subtracted from Rebate, All Add-Ons are Cumulative

FICO Score(Loan Terms Greater than 15 years)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
*95.01-973
740+ 0.000 0.250 0.250 0.500 0.250 0.250 0.250 0.750
720-739 0.000 0.250 0.500 0.750 0.500 0.500 0.500 1.000
700-719 0.000 0.500 1.000 1.250 1.000 1.000 1.000 1.500
680-699 0.000 0.500 1.250 1.750 1.500 1.250 1.250 1.500
660-679 0.000 1.000 2.250 2.750 2.750 2.250 2.250 2.250
640-659 0.500 1.250 2.750 3.000 3.250 2.750 2.750 2.750
620-639 0.500 1.500 3.000 3.000 3.250 3.250 3.250 3.500

Cash Out Refinance(All Loan Terms)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
*95.01-973
740+ 0.375 0.625 0.625 0.875 n/a n/a n/a n/a
720-739 0.375 1.000 1.000 1.125 n/a n/a n/a n/a
700-719 0.375 1.000 1.000 1.125 n/a n/a n/a n/a
680-699 0.375 1.125 1.125 1.750 n/a n/a n/a n/a
660-679 0.625 1.125 1.125 1.875 n/a n/a n/a n/a
640-659 0.625 1.625 1.625 2.625 n/a n/a n/a n/a
620-639 0.625 1.625 1.625 3.125 n/a n/a n/a n/a

Condo(Loan Terms Greater than 15 years)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
*95.01-973
ALL 0.000 0.000 0.000 0.750 0.750 0.750 0.750 0.750

2-4 Units(All Loan Terms)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
*95.01-973
ALL 1.000 1.000 1.000 1.000 n/a n/a n/a n/a

Investment Property(All Loan Terms)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
*95.01-973
ALL 2.125 2.125 2.125 3.375 4.125 n/a n/a n/a

No Escrow Account4(For Payment of Taxes and Insurance)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
*95.01-973
ALL 0.250 0.250 0.250 0.250 0.250 0.250 n/a n/a

Subordinate Financing(All Loan Terms)

LTV RANGE CLTV RANGE FICO <720 FICO >=720
<=75% <=80% 0.375 0.375
<=65% 80.01-95% 0.875 0.625
65.01-75% 80.01-95% 1.125 0.875
75.01-95% 76.01-95% 1.375 1.125

Notes:

(1) Loan-To-Value is calculated by dividing the loan amount by the property value.

(2) Combined-Loan-To-Value is calculated by dividing the total of all loans on the property (including home equity loans and lines of credit) by the property value.

(3) 95.01% - 97% financing only available to first time homebuyer's (defined as not having owned a home in the past 3 years).

(4) You are required to have an escrow account for the payment of taxes and insurance if the LTV ratio on your loan is over 80% (89.99% in California.)

Our most popular program! Because 30 years is the longest term available, the monthly payments will be the lowest of any of the fixed rate programs.
An “in between” option, providing a lower interest rate than the 30-year fixed and a lower payment than the 15-year fixed.
Our second most popular program! You pay a lower rate and build equity faster than you would with a longer term program. The monthly payments are higher, but the savings over the life of the loan are considerable.
The shortest term we offer, this program offers slightly better pricing than a 15-year fixed.
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