A home mortgage is a primary residence or second home mortgage.  Borrowers applying for Primary Residence Home Mortgages often see up to 95-97% Loan to values (LTVs) and second homes are typically up to 90% LTV.

Agency rates are low, (Fannie Mae, Freddie Mac, FHA & VA) starting at 2.5% (2.75% APR) for well-qualified borrowers for 30 year fixed mortgages and 2% with 2.25% APR’s for 15-year mortgages (8.8.20 rate sheets).

There are 3 main factors for Individuals seeking to buy or refinance a home; credit, income, and liquid assets.  As the industry continues to see growing numbers of Forbearances, servicers continue to take large losses, and as a result, have made stricter underwriting guidelines and reduced Service Release Premiums. 

As an industry standard since COVID, a minimum credit requirement of 620 is required for FHA and VA mortgages and 640 for Fannie Mae and Freddie Mac. 

Borrower’s income must be fully documented to a Debt to Income (DTI) ratio, as per the Dodd-Frank Act, of typically under 45%, but Automated Underwriting Systems (AUS) has been known to make exception up to 55% in the past, with mitigating circumstances, such as higher asset borrowers.  Those exceptions are fewer today with COVID overlays. Self-employed income is more scrutinized as well.  Borrowers especially in “non-essential businesses” must prove that their year to date business income is consistent and stable and supports the income level used to qualify the DTI ratio. Depreciation, Asset Depletion, and other add-backs are still accepted principles for income calculations. 

Self Employed borrowers are welcome to contact us for free income calculations and income positioning strategy recommendations. 

Liquid asset requirements have increased during COVID for owners of investment properties, from 6 to 12 months, for each property.

Non-Agency home mortgages are at lower LTV’s in this COVID era, approved case by case, at various Loan to value and interest rates.  Alternate documentation such as bank statement are still accepted, substantially fewer non-agency lenders remain, and a dramatic reduction in non-agency volume persists. 

Select Loan Type
Home Refinance
Home Refinance
Home Purchase
Home Purchase
Home Equity
Home Equity
Please give us more info.

Kindly provide your date of birth so our mortgage brokers can verify your identity when they contact you. Thank you for your cooperation.

By providing your SSN, our brokers will know you're sincere about obtaining a loan. You will get better rates & terms, and your credit will never be affected.

Submit
Select Property Type
Single Family
Single Family
Multi Family
Multi Family
Condominium
Condominium
Townhouse
Townhouse
Manufactured Home
Manufactured Home
What Is The Property Use
Primary Residence
Primary Residence
Vacation Home
Vacation Home
Investment
Investment
How Is Your Credit?
Excellent
Excellent
Very Good
Very Good
Good
Good
Fair
Fair
Poor
Poor
Have You Already Found A Home
Continue
Estimated Purchase Price
Continue
Down Payment
0% VA/USDA
0% VA/USDA
3% Conv.
3% Conv.
3.5% FHA
3.5% FHA
5%
5%

10%
10%
20%
20%
Military Service?
Yes
Yes
No
No
You Expect To Buy Within?
30-45 Days
30-45 Days
2-3 Months
2-3 Months
6 Months
6 Months
Longer
Longer
Tell Us About Your Needs
Continue
Tell Us About Your Needs
Continue
Tell Us About Yourself
Continue
Tell Us About Yourself
Continue
Property Zip
Continue
Contact Information
Submit