Advantages

  • Only 3% down payment requirement (may be gift funds).
  • No minimum contribution required from borrower’s own funds.
  • Seasoning of borrower funds not required.
  • Boarder income may be used to qualify if received for at least 9 of the last 12 months.
  • Reduced PMI coverage requirements.
  • PMI insurance is cancellable. View cancellation guidelines.
  • Easy Homeowner Education Class that can be taken in classroom or online.

To view eligible locations and income restrictions, please click here.

Program Guidelines

Primary Residence

Purchase
Property Type Max Loan Amount Max LTV
SFR/Condo 424,100 97
SFR/Condo 424,100 95
2-Unit 543,000 85
3-Unit 656,350 75
4-Unit 815,650 75
No Cash Out Refinance
Property Type Max Loan Amount Max LTV
SFR/Condo 424,100 95
2-Unit 543,000 85
3-Unit 656,350 75
4-Unit 815,650 75
Risk-Based Add-Ons(Added to Points, All Add-Ons are Cumulative)

FICO Score(Loan Terms Greater than 20 years)

FICO LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
95.01-97
740+ 0.125 0.125 0.125 0.375
720-739 0.250 0.250 0.250 0.500
700-719 0.500 0.500 0.500 0.750
680-699 0.750 0.625 0.625 0.750
660-679 2.125 1.875 1.875 1.875
640-659 2.375 2.125 2.125 2.125
620-639 2.375 2.375 2.375 2.500

Condo(Loan Terms Greater than 15 years)

FICO LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
95.01-97
ALL 0.375 0.375 0.375 0.375

2-4 Units(All Loan Terms)

FICO LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
95.01-97
ALL 1.000 N/A N/A N/A

No ESCROW/Impounds(All Loan Terms)

FICO LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
95.01-97
ALL 0.250 0.250 N/A N/A

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.