What good is having the best products-
IF NOBODY CAN FIND THEM?
LET'S FIND THE PERFECT PROGRAM TOGETHER
How long since a Major Credit Event?
"Major Credit Event" is defined as a Bankruptcy, Foreclosure, or Short Sale.
What is your credit score for Decision Making?
After putting money down, do the clients have money to pay closing costs?
** Not applicable if the seller is paying the closing costs on the purchase contract.
Is the Loan Amount <= the FHA maximum mortgage limit for that area?
Was the credit event the result of Extenuating Circumstances?
Fannie Mae describes “extenuating circumstances” as follows: Extenuating circumstances are nonrecurring events that are beyond the borrower's control that result in a sudden, significant, and prolonged reduction in income or a catastrophic increase in financial obligations.
What is your credit score for decision making?
Is the loan amount <= the Conforming Loan Limit?
Is the loan amount <= the Conforming Loan Limit?
What is your credit score for decision making?
After putting money down, do the clients have money to pay closing costs?
** Not applicable if the seller is paying the closing costs on the purchase contract.
Is the borrower an Eligible Veteran?
Is the borrower an Eligible Veteran?
Do they meet the VA Disposable Income Requirements?
Provide descriptions and instructions on how to compute the disposable income a calculation
After putting money down, do the clients have money to pay closing costs?
** Not applicable if the seller is paying the closing costs on the purchase contract.
Do the have enough eligibility remaining?
*** Include info or link on how to determine
Do they meet the VA Disposable Income Requirements?
Provide descriptions and instructions on how to compute the disposable income a calculation
Is the borrower an Eligible Veteran?