This is the most aggressive stated income program we offer. Debt ratios are not calculated Mortgage insurance is optional Top of Page Conforming Conventional 1st Mortgage Loans underwritten in within 24 hours through Desktop Underwriter and Loan Prospector. Slightly higher income ratios allow borrowers to qualify for higher loan amounts - which enables them to purchase a larger home. Please contact our office regarding the HUD median income allowance for your area. Top of Page VA Available to individuals who have served or are currently in the U.S. armed forces that meet eligibility requirements, VA mortgages may be provided with no down payment requirement, making them ideal for first-time borrowers.
Loans are assumable with release of liability and there are no penalties for prepayment.
Borrowers can keep their down payment funds to pay for furniture, applicances, etc. for the new home. Primary residences only. Not available for manufactured housing, condominiums, duplexes, or rural properties. The No Ratio Program is offered for those borrowers with a strong asset base, steady employment, and perfect credit. Proof of income is not required.