Niche

THE WUNDERWRITER’S GUIDE TO EVALUATING LOANGISTICS { EVALUATING WHETHER A BORROWER HAS THE ABILITY TO REPAY A LOAN, TMS FOLLOWS AUS FINDINGS AND FNMA, HUD, USDA,OR VA GUIDELINES WITH NO OVERLAYS }

FHA

  • 620+ FICO
  • Borrowers with one credit score eligible
  • Non-occupant co-signers with standard minimum FICO accepted
  • Manual underwriting allowed
  • Order appraisal through any AMC
  • Manufactured homes eligible, single-wide or double-wide accepted
  • 203(k) Standard & Limited available
  • HUD REO $100 down allowed
  • W2 Only Program
  • One day off market for cash-out refinance (property to be off market prior to date of loan application)

Conventional

  • 620+ FICO on conforming conventional
  • Only one score reporting required withDU approval
  • Properties one day off of market elgible for R&T refi
  • No minimum number of tradelines, restrictions, or seasoning on flips
  • Appraisal waivers allowed if permitted by AUS
  • DU Refi Plus to unlimited LTV/CLTV with any FICO as long as AUS approved
  • Under six months cash-out/delayed finance option
  • Lender Paid MI: single premium & financed MI
  • W2 Only Program
  • Freddie Mac Direct Lender

Streamlines

  • No minimum FICO for streamlines conforming & high balance; no appraisal; no income - no credit qualifying
  • Max 1x30 in past 12 months, but zero in last 90 days
  • Investment & second homes eligible
  • Ignore other property foreclosures & mortgage lates (non-qualifying streamline only)

USDA

  • 640+ FICO
  • Manual underwriting allowed
  • Order appraisal through any AMC
  • No overlays according to USDA guidelines
  • Condo and Manufactured allowed

VA

  • 580+ FICO
  • No minimum FICO VA IRRRL
  • We accept DU and LP
  • VA Refer eligible (580 min-50% DTI max)
  • Cash-out up to 100% allowed
  • Unlimited CLTV
  • VA IRRRL with sub 620 FICO
  • Manufactured homes eligible - single-wide or double-wide
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The Money Source Inc. NMLS #6289, 135 Maxess Rd., Melville, NY 11747. All information in this document is for informational purposes only. This is intended for the exclusive use of mortgage professionals only and is not intended for distribution to or use by consumers. This information is not considered an advertisement for consumer credit pursuant to Regulation Z, 12 C.F.R. 1026.24. This is not a commitment to lend. Program rates, terms, and conditions are subject to change without notice and may not be available at consummation. All products are subject to credit and property approval. Not all applicants will qualify. Other restrictions and limitations may apply. The Money Source Inc. is not affiliated with or acting on behalf of or at the direction of HUD/FHA, VA, USDA, or the Federal government. The Money Source Inc. is an Equal Housing Lender.