Loan Parameters

• Doublewide only, no single wide
• Primary Occupancy
• Purchase and refinance
• Minimum Credit Scores 660
• Minimum Loan amount $85k
• Down payment 3.5% FHA loan
• Gifts are allowed, up to 6% of the loan amount
• Income document type: 2 years of tax returns, w2’s and 30 day paycheck stubs, if applicable.
• Terms for the loan, 15,20and 30 years
• Fixed rates no prepayment penalties
• Requires an Escrow account. Taxes and insurance together in the monthly payment
• 2 months of Reserves (savings) required. 2 months equivalent to the new mortgage payments
• Yes there is mortgage insurance
• Max debt to income ratios 43%