Frequently Asked Questions from Loan Professionals
Non-QM
Any program allow for 1st time investor, rent free, DSCR ratio below 1?
What are acceptable flood insurance coverage policies?
I have an investor looking to buy a 2-family in NJ for $1M, 15% down, 740 credit. What DSCR options are available?
How to use rental income to qualify for a loan?
What lenders allow foreign nationals for DSCR loans on single family investment properties?
how is a large deposit defined
Can I use rental income on a departing residence
DSCR
No Ratio
DACA
Are access letter needed for jointly held asset accounts when a non-borrower is a joint account holder
Loan Requirements
What loan program can I use to get a primary residence loan with 5% down and no mortgage insurance?
What are the requirements for a warrantable condo?
What is the max DTI of this program?
asset depletion
Max DTI
what are the appraisal guidelines for a manufactured home
mixed use property
For new construction condos, how many units are required to be under contract to close the loan case
do we have any restrictions on our CES loans for going behind a VA loan?
which program can do temp buydown for non-warrantable condo?
can i use adu income to qualify
What is the minimum FICO?
What loan program can I use to get a primary residence with 0% down payment, not PMI?
What is the definition of a mid-rise condo?
what is the max loan amount
How does FHA treat charge offs?
ADU
What’s the max LTV on a P/L only loan and what are the requirements?
agency loan, can you purchase investment home if you are a first time homebuyer
General / Other
Refinance & Loan Purpose
cash out seasoning
Cash-out refinance on a 4-unit in Texas, $2M value, 720 credit score. What DSCR programs work?
From the appraisal we ordered, All four units are attached with all separate addresses and separate entrances but the concern is that one of the units is only 200 sq ft. Will this be an issue?
requirements for FHA streamline
Can a borrower pay off revolving debt required by a divorce decree and consider it a limited cash-out refinance?
Are we able to go over 70% LTV on a DSCR cash out refi with ratio < 1.0?