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Direct Mortgage Loan Programs 
**Updated 18 Nov 2008** |
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Program Number |
Program Description |
Program Type |
Max Loan Amount |
Max LTV/ CLTV |
Min FICO |
Occupancy Types |
Purpose |
Doc Types |
6010 |
Conforming Fixed (LP) |
Conventional/Conforming |
Conforming Loan Limit |
95 LTV
90 LTV w/sub fin:
95 TLTV - 100 HTLTV2 |
N/A3,4 |
OO/2nd/NOO |
P/R&T/CO |
Full/Alt (run LP) |
6012 |
Conforming Treasury/LIBOR ARM (LP) |
Conventional/Conforming |
Conforming Loan Limit |
95 LTV
90 LTV w/sub fin:
95 TLTV - 100 HTLTV2 |
N/A3,4 |
OO/2nd/NOO |
P/R&T/CO |
Full/Alt (run LP) |
6016 |
FHA Traditional Fixed and ARM Purchase |
Government |
HUD County Limit |
98.75/100 |
580 |
OO |
P |
Full |
6050 |
FHA Traditional Fixed and ARM Refinance |
Government |
HUD County Limit |
98.75/100 |
580 |
OO |
R&T/CO |
Full |
6051 |
FHA Fixed and ARM Refinance (LP) |
Government |
HUD County Limit |
98.75/100 |
580 |
OO |
R&T/CO |
Full (run LP) |
6052 |
FHA Streamline Fixed and ARM Refinance (no credit qualifying) |
Government |
HUD County Limit |
98.75/100 |
None |
OO |
R&T |
Streamline |
6059 |
FHA Streamline Fixed and ARM Refinance (credit qualifying) |
Government |
HUD County Limit |
98.75% |
580 |
OO |
R&T |
Streamline |
6068 |
FHA Fixed and ARM Purchase (LP) |
Government |
HUD County Limit |
98.75/100 |
580 |
OO |
P |
Full (run LP) |
6073 |
Conforming 5 and 7 Year Balloon (LP) |
Conventional/ Conforming |
Conforming Loan Limit |
95 LTV
90 LTV w/sub fin:
95 TLTV - 100 HTLTV2 |
N/A3,4 |
OO/2nd/NOO |
P/R&T/CO |
Full/Alt (run LP) |
6087 |
DU® Interest Only LIBOR ARM |
Conventional/ Conforming |
Conforming Loan Limit |
95/95 |
N/A3,4 |
OO/2nd/NOO |
P/R&T/CO |
Full/Alt (run DU) |
6105 |
VA Traditional |
Government |
Conforming Loan Limit |
100% |
None |
OO |
P |
Full |
6113 |
DU |
Conventional/ Conforming |
Conforming Loan Limit |
95% LTV
|
N/A3,4 |
OO/2nd/NOO |
P/R&T/CO |
Full (run DU) |
6115 |
Direct 6115 |
Non-Conforming |
$2,000,000 |
90% |
700 |
OO/2nd/NOO |
P/R&T/CO |
Full |
6120 |
Direct Community |
Conventional/ Conforming |
Conforming Loan Limit |
97% |
N/A3,4 |
OO |
P/R&T |
Full/Alt (run DU) |
6138 |
LP No MI |
Conventional/Conforming |
Conforming Loan Limit |
90% |
N/A3,4 |
OO/2nd/NOO |
P/R&T |
Full/Alt (Run LP) |
6140 |
DU No MI |
Conventional/Conforming |
Conforming Loan Limit |
90% |
N/A3,4 |
OO/2nd/NOO |
P/R&T |
Full/Alt (Run DU) |
6147 |
DU Flex |
Conventional/Conforming |
Conforming Loan Limit |
95% |
N/A3,4 |
OO |
P/R&T |
Full |
6151 |
DU FHA Refinance |
Government |
HUD County
Limit |
98.75% |
580 |
OO |
R&T/CO |
Full/Alt (run DU) |
6152 |
DU FHA Purchase |
Government |
HUD County
Limit |
98.75% |
580 |
OO |
P |
Full/Alt (run DU) |
6154 |
DU ARM |
Conventional/
Conforming |
Conforming
Loan Limit |
95% |
N/A3,4 |
OO/2nd/NOO |
P/R&T/CO |
Full/Alt (run DU) |
6155 |
FHA Secure |
Government |
HUD County Limit |
98.75% |
N/A3 |
OO |
R&T |
Full |
6158 |
Direct Possible |
Conventional/
Conforming |
Conforming
Loan Limit |
97% |
N/A3,4 |
OO |
P/R&T |
Full (run LP) |
6161 |
DU Fixed Interest Only |
Conventional/
Conforming |
Conforming
Loan Limit |
95% |
N/A3,4 |
OO/2nd/NOO |
P/R&T/CO |
Full (run DU) |
6165 |
Non-Conforming ARMs |
Non-Conforming |
$2,000,000 |
85% |
720 |
OO |
P/R&T/CO |
Full |
6166 |
Non-Conforming Fixed |
Non-Conforming |
$3,000,000 |
85% |
660 |
OO |
P/R&T/CO |
Full |
6176 |
VA IRRRL (Interest Rate Reduction Refinance Loan) |
Government |
Conforming
Loan Limit |
100% |
N/A3 |
OO |
R&T |
Full |
6178 |
VA DU Purchase
|
Government |
Conforming Loan Limit |
100% |
None |
OO |
P |
Full |
6179 |
VA DU Refinance |
Government |
Conforming Loan Limit |
100% |
None |
OO |
CO |
Full |
6185 |
DU Agency Jumbo Fixed |
Conventional |
HUD County
Limit |
90% (OO)
60% (2nd/N00)
|
660 |
OO/2nd/NOO |
P/R&T/CO |
Full |
6186 |
DU Agency Jumbo Arm |
Conventional |
HUD County
Limit |
90% (OO)
60% (2nd/N00)
|
660 |
OO/2nd/NOO |
P/R&T/CO |
Full |
6187 |
LP Agency Jumbo Fixed |
Conventional |
HUD County
Limit |
90% (OO)
60% (2nd/N00)
|
660 |
OO/2nd/NOO |
P/R&T/CO |
Full |
6188 |
LP Agency Jumbo Arm |
Conventional |
HUD County
Limit |
90% (OO)
60% (2nd/N00)
|
660 |
OO/2nd/NOO |
P/R&T/CO |
Full |
6189 |
LP High Balance Fixed FHA |
Government |
HUD County
Limit |
98.75%
|
600 |
OO |
P/R&T/CO |
Full |
6190 |
LP High Balance ARM FHA |
Government |
HUD County
Limit |
98.75%
|
600 |
OO |
P/R&T/CO |
Full |
6191 |
DU High Balance Fixed FHA |
Government |
HUD County
Limit |
98.75%
|
600 |
OO |
P/R&T/CO |
Full |
6192 |
DU High Balance ARM FHA |
Government |
HUD County
Limit |
98.75%
|
600 |
OO |
P/R&T/CO |
Full |
6197 |
VA DU Purchase
|
Government |
HUD County
Limit |
100% |
620 |
OO |
P |
Full |
6198 |
VA DU Refinance |
Government |
HUD County
Limit |
90% |
660 |
OO |
CO5 |
Full |
6199 |
FHA $100 Down |
Government |
HUD County
Limit |
$100 Down Payment |
580 |
OO |
P |
Full |
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Non-Owner Occupied & Second Homes
80% Max LTV; 620 Min FICO.
No cash out allowed.
Mortgage insurance guidelines apply. |
*Loan programs subject to change at any time without prior notice.*
1 Maximum mortgage amounts for single family homes.
2 TLTV must be met with HTLTV maximum. Max cash disbursed at close limited to TLTV.
3 Credit scores lower than 620 may be allowed with and without price adjustments.
4 LP or DU will determine acceptability of scores.
5 Any non-streamline VA is considered cash out.
NOTE: Values shown are examples of maximums and minimums allowed. Consult Direct Mortgage Loan Program Guidelines for details regarding any specific loan. |
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View a list of archived product flyers.
View a list of all our FHA loans.
View a list of all our VA loans.
Learn about obtaining FHA approval.
Learn the Benefits of FHA Loans.
Learn Key Elements of FHA loans.
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Legend:
OO = Owner Occupied
NOO = Non Owner Occupied or Investment
2nd = Second Home
P = Purchase
R&T = Rate & Term Refinance
CO = Cash Out Refinance
Stated=Stated Income Verified Assets
SISA = Stated Income Stated Asset
NINA = No Income No Asset
NIVA = No Income Verified Asset
Balloon = Balance Due Before End of Amortized Term
No Doc = Income, Assets, & Employment Neither Stated Nor Verified
No Ratio = Income Not Stated, Employment & Assets Verified
FHA = Federal Housing Administration
HUD = Housing & Urban Development, U.S. Department of
DU® = Desktop Underwriter®
LP = Loan Prospector®
FICO® score=Fair Isaac Corporation score or Beacon® score
VA = Veterans Affairs, United States Department of |
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