NICHE PRODUCTS
Browse below for products and scenarios that may help you place loans you currently do not have a place for
CONVENTIONAL NICHES
HARP PRODUCTS
ALL EA LEVELS ( I ,II, III) OK
NO FICO, LTV OR DTI RESTRICTIONS
MI Transfers ok
HAVE AN AUS APPROVAL?
NO LIMIT ON LTV!
NO LIMIT ON DTI!
NO MINIMUM FICO SCORE!
ALL THE ABOVE APPLY TO
INVESTMENT PROPERTIES AS WELL!
NON HARP PRODUCTS
DID YOU GET AN AUS APPROVAL?
IF YOU DID THEN…
NO LIMIT ON LTV!
NO LIMIT ON DTI!
NO MINIMUM FICO SCORE!
ALL THE ABOVE APPLY TO INVESTMENT PROPERTIES AS WELL
(no annoying 660 minimum fico minimum)
FICO AVERAGING IS BACK!!
Average All Fico scores
or
Average Middle Fico Scores
(Freddie Mac Only)
ONE YEAR TAX RETURNS TO QUALIFY SELF EMPLOYED BORROWERS
Are your DU/LP Findings only asking for the most recent years income to qualify your Self Employed Borrower?
Tired of having to average 2 years worth of Self Employed income because of an Investor or Lender OVERLAY?
QUALIFY SELF EMPLOYED BORROWERS WITH INCOME ON ONLY LAST YEARS FILED RETURNS
(Findings will indicate if this is allowed)
PROPOSED RENTAL INCOME OK WITH NO LANDLORD HISTORY
Borrower purchasing a Non Owner and needs proposed rental to qualify and his tax returns don’t have any prior rental on Schedule E?
2 YEAR LANDLORD HISTORY NOT REQUIRED TO USE PROPOSED RENTAL ON AN INVESTMENT PROPERTY PURCHASE
(FANNIE MAE ONLY)
CONVENTIONAL SPOT CONDO APPROVALS
Have a Borrower buying or refinancing a Condo?
Does the Condo meet Fannie/Freddie requirements but is no longer, or not yet Fannie approved?
WE CAN DO SPOT APPROVALS ON ONE UNIT PER COMPLEX
1 DAY SEASONING FOR GIFT FUNDS
Does your investor or lender want you to source and season gift funds in the DONORS account?
ONE DAY TRANSACTION HISTORY FOR THE DONOR ON ALL GIFT FUNDS
LOTS OF CONVENTIONAL PMI OPTIONS
Need a Single premium MI to make your loan work?
Need split premium MI to make your loan work?
ALL MI TYPES AVAILABLE
(EXCEPT LENDER PAID MONTHLY)
BORROWER PAID SINGLE PREMIUM
LENDER PAID SINGLE PREMIUM
BORROWER PAID SPLIT PREMIUM
BORROWER PAID MONTHLY
NON OCCUPANT
CO BORROWER OK!
Have a loan that needs a non occupant co borrower to Qualify?
Don't Want your borrower to get CRUSHED with TONS of PMI on a FHA LOAN?
NON OCCUPANT CO BORROWERS ALLOWED ON CONVENTIONAL LOANS!
ALL LOAN TYPES INCLUDING CASH OUT (FREDDIE MAC ONLY)!
OMIT CREDIT CARD PAYMENTS WITHOUT CLOSING ACCOUNTS
Omit Credit Card payments without having to close the Accounts on a Cash Out Refi.
(Freddie Mac Only)
REFINANCE WITH PROPERTY
STILL ON OR JUST TAKEN OFF MLS
Did your borrower get approached by a real estate agent to list their house at a value they knew wasn’t attainable?
Is the house still on the market or just taken off and now your borrower can’t REFI?
ALL REFIS OK WITH HOUSE STILL LISTED OR ONE DAY OFF THE MARKET!!
EVEN CASH OUT!!
MANUFACTURED HOMES OK!
Have a manufactured home that needs a loan?
Can’t find a lender to do it?
MANUFACTURED HOMES OK WITH AUS APPROVAL!
CUSTOM LOAN TERMS AVAILABLE
Have a borrower that wants a shorter term, but doesn’t qualify for the exact term they want?
Have a borrower that doesn’t want to shorten or lengthen their loan term (borrower at 23 years doesn’t want to go out to 25 or 30 and doesn’t want to or doesn’t qualify for a 20 or 15 year)
CUSTOM LOAN TERMS AVAILABLE…
6,7,8,9,11,12,13,14,16,17,18,19,
21,22,23,24,26,27,28,29 YEARS
CUSTOMIZE THE TERM DOWN TO THE MONTH
I.E. 22YEARS 5 MONTH TERM (269 MONTHS)
DELAYED FINANCING OFFERED
Have a borrower who just purchased a property at cash only auction and wants his MONEY BACK!
DELAYED FINANCING ALLOWED TO GET YOUR BUYER HIS MONEY BACK!!
ONE DAY SELLER SEASONING ALLOWED
Is your borrower purchasing a house and the Seller is on title less than 90 days?
ONE DAY SELLER SEASONING ALLOWED
(MUST MEET FANNIE/FREDDIE
FLIP GUIDELINES AND BEST PRACTICES)
5 + FINANCED PROPERTIES OK!!
Have a borrower with 5 or more financed properties that needs a home?
5 - 10 FINANCED PROPERTIES OK!
(Fannie Mae only minimum 720 Fico score)
FHA NICHES
THE BELOW PRODUCTS ARE
INCLUDED IN MATRIX
FHA PURCHASES LESS THAN 12 MONTHS SELLER SEASONING
FHA PURCHASES OVER 12 MONTHS SELLER SEASONING
FHA REFINANCE PRODUCT MATRIX
FHA STREAMLINE
NO INCOME!
NO APPRAISAL!
640 MINIMUM FICO
CALL FOR FULL DETAILS
****ALL PRODUCTS SUBJECT TO AUS AND FINAL LENDER APPROVAL****
United Mortgage Corp - 25 Melville Park Rd Suite 100 Melville NY 11747 - 800-462-4862 - NMLS ID # 1330
This Website is solely intended for the use of Licensed Mortgage Professionals and is not an adverstisement to the general public.