Underwriting at a glance

Minimum FICO

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Max LTV (purchase / rate-term)

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Max LTV (cash-out)

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Loan amount

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Documentation

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States

AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, ID, IA, IL, IN, KS, KY, LA, MI, MO, MS, MT, NC, ND, NH, NE, NJ, NM, NV, OH, OK, OR, PA, RI, SC, SD, TX, UT, VA, WA, WY

Highlights

• •Available in 35 states and DC
• •Includes ARM and fixed-rate options
• •Lower origination fee cap on Fixed Plus version
• •Available to borrowers as young as 55
• •Higher principal limits than standard HECM
• •In-house condo approvals using Fannie Mae Limited Review
• •No amendatory clause or RE certification required
• •Only earnest money deposits greater than 2% must be sourced
• •Borrowers may remain in a property tax deferment program subject to conditions
• •Allows proceeds to be used for debt consolidation
• •Provides monthly cash-flow relief for seniors