Loan Program Updates for the week beginning 2/18/2008
6129 and 6162 – If LTV greater than 80% then 50% of qualifying income must come from self-employment.
6160 and 6163 - 50% of qualifying income must come from self-employment.
6153 – No longer available.
Mortgage Insurance Guideline Updates –
Home Possible and My Community Products - If Fico score is less than 660 then MI factor is .97%.
Huge updates coming in March that will significantly change ability to get mortgage insurance.