VA Loans up to 100% Financing starting with 500 FICO scores
FHA loans starting with 500 FICO scores
Conventional Loans (Fannie and Freddie standards) Min. 620 FICO scores

VA Cash Out up to 90% of your home’s value 
FHA Cash Out up to 80% of your home’s value  (some cases 85%)

Conventional Loans up to 80% LTV (conforming Fannie/Freddie loans, NOT including non-conventional loans which may allow higher LTV lending)

Bank Statement Program
12 or 24 Months of Business or Personal Bank Statements for Self-Employed Borrowers

Investor/Hard Money Loans

DSCR (Debt Service Coverage Ratio)
Loans on residential apartments/commercial properties up to 80% of property’s value and qualifications based on property’s income and mortgage payments

The higher the FICO scores, the better the rate (720+ scores offers prime rates)

Conventional Loans start at 3% down

FHA down payments start at 3.5% minimum – 
FHA 500 FICO will require 
5-15% down payment upon purchase

Mortgage Insurance for conventional loans will apply to loans with down payments less than 20% (FHA loans require mortgage insurance regardless of down payment – 10% or more down can wipe out MI after 11 years)

DSCR Investor Loans must meet certain property income/expense ratios to qualify (no personal income is considered with this type of loan)

“No FICO” loan programs will be underwritten and subject to lender conditions

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E. Hubbard, MBA
Broker-MLO, e-PRO®, PSA, CPRES
NMLS ID 237372
(310) 330-6657

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Contact Us for today’s mortgage rates.