Sentences with phrase «official loan guidelines»
Not exact matches
A mortgage overlay is an additional mortgage guideline imposed by a lender, which goes beyond the loan's official minimum standard.
https://themortgagereports.com/
According to official HUD guidelines, borrowers using an FHA loan need a credit score of 580 or higher to qualify for the 3.5 % down payment mentioned above.
However, the «official» guidelines of a government - backed loan program can look a bit aggressive to banks — especially conservative ones.
For example, official FHA mortgage guidelines state that borrower's minimum credit score must be 500 in order to get FHA home - loan - approved.
Yes, according to official HARP guidelines, you can be unemployed and use the HARP loan to refinance.
No changes to FHA guidelines for reverse mortgage loans have been made official, but during a conference call with mortgage lending industry representatives, FHA officials noted the agency's intention to make reverse mortgage loans more affordable while balancing FHA exposure to risk.
For homeowners with FHA mortgages, VA loans or with less than 20 % equity, escrowing homeowners insurance is required per official mortgage guidelines.
The official FHA guidelines state that FHA Streamline Refinance loans require neither a home appraisal nor a credit score check.
AUSTIN — Home equity loans recently became legal in Texas, but official guidelines for the practice won't go into effect until the state Legislature meets in 1999.
Official guidelines for the FHA Streamline Refinance waive appraisal requirements, which means that loans with unlimited LTV are allowed.
According to official HUD guidelines, borrowers using an FHA loan need a credit score of 580 or higher to qualify for the 3.5 % down payment mentioned above.
For example, official FHA mortgage guidelines state that borrower's minimum credit score must be 500 in order to get FHA home - loan - approved.