Today’s post is a highlight of our newer loan programs. The guidelines for 6142, 6143, 6144, and 6146 are effective through 4:00 pm MDT today. Updated guidelines will be posted on this blog next week.
6142 – Minimum payment is 3.0% below note rate
6143 – Minimum payment is 3.5% below note rate
6144 – Minimum payment is 4.0% below note rate
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Program Number
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Program Description
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Program Type
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Max Loan Amount
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Max LTV/ CLTV
|
Min FICO
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Occupancy Types
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Purpose
|
Doc Types
|
|
|
5 Yr Hybrid Arm 3% Below Note
|
Specialty-Niche
|
$2,000,000
|
95%
|
620
|
OO/2nd/NOO
|
P/R&T/CO
|
Full/Alt/Stated/No Ratio/No Doc
|
|
6143
|
5 Yr Hybrid Arm 3.5% Below Note
|
Specialty-Niche
|
$2,000,000
|
95%
|
700
|
OO
|
P/R&T/CO
|
Full/Stated
|
|
6144
|
5 Yr Hybrid Arm 4% Below Note
|
Specialty-Niche
|
$2,000,000
|
95%
|
720
|
OO
|
P/R&T/CO
|
Full/Stated
|
|
6146
|
Piggy Back Second
|
Specialty-Niche
|
$350,000
|
95%
|
660
|
OO
|
P/R&T/CO
|
Full/Stated/No Ratio
|
|
6147
|
DU Flex 100
|
Conventional/Conforming
|
Conforming Loan Limit
|
100%
|
575
|
OO
|
P/R&T
|
Full
|
|
6148
|
Non Conforming IO ARM
|
Specialty-Niche
|
$2,000,000
|
95%
|
680
|
OO/2nd
|
P/R&T
|
Full/Stated
|