Program Guidelines For Fixed Rate Loans
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Section 2.01 - Agency Loan Programs
www.stmpartners.comFully Amortizing Fixed Rate, and Fully Amortizing 5/6-Month, 7/6-Month, and 10/6-Month SOFR ARMs. Agency Plus Select: Fully Amortizing Fixed Rate All DU processed loans must receive a DU “Approve/Eligible” or an acceptable DU “Approve/Ineligible” recommendation.
Freddie Mac Home Possible Mortgages
www.freddiemac.com1-unit fixed-rate mortgages that are purchase transactions 660 1-unit fixed-rate mortgages that are “no cash-out refinance transactions 680 • See Guide Section 4501.8 (b) for additional underwriting requirements for manually underwritten mortgages.
Easy Documentation
ec-tpo-com-assets.s3.us-west-2.amazonaws.comReserves (Rate/Term) • Reserves are waived, if: • 0x30x12 • 10% P&I savings • Owner Occ • Max DTI 50% No Credit Event 90% 80% Residual Income • $2,500 required when DTI > 45% Credit Event 3+ Years: 90% 80%: Impounds • Escrows are required on HPML loans • HPML not applicable to Investments Credit Event 2+ Years: 85% 75%