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FHA MORTGAGE LOAN HAS GOTTEN BETTER THAN EVER! (San Diego)

FHA LOAN HAS GOTTEN EVEN BETTER!

· 580 minimum FICO (580-599 require approved eligible)
· W-2 Validation for wage earners is allowed
· No donor bank statement required for gifts (wired to escrow)
· No minimum trade line requirement
· Manual underwrites
· Max DTI per DU – Income Doc is per DU
· Non-traditional credit is acceptable
· Cash-out Refinances to 85%
· Max backend debt ratio 56.9% on FICO above 620
· 3.5% can be a gift
· Resident alien citizen or a valid work authorization / visa allowed
· Rates on FHA are lower in comparison to Conventional

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