AMERICAN FINANCIAL RESOURCES – Click to open 

They will do FHA purchase to 580, R/T refinance to 560 and require 620 for streamlines.   This lender also underwrites FHA manufactured housing units.   

I also understand they have other product down to 520 and a blogger mentioned they approved a loan with a 504 FICO.  Mortgage history is all important when submitting for loan approval.  You need to get their matrix and discuss product with them directly.  Additionally, it appears they aren’t in any hurry to status loans but when you’re one of only a few players I guess you don’t have to be all things to all people! 

EMIGRANT MORTGAGE – Click to open

They have a NINA program; for primary residences we offer a 3/1 and 5/1 with 40 year amortization; for second homes and investment properties they offer 3/1, 5/1, 7/1, 10/1, (with 30 year amortization), 15 year and 30 year fixed.  

Emigrant recently came out with a 90% Second Home Loan for TPO paper and don’t know of another lender that offers the program at this LTV.

FIRST AMERICAN MORTGAGE TRUST

Liz Bell  

717 635-8576.

liz.bell@nxtloan.com 

Manufactured has to have a mid score of 600 ratios 43%. 

Must be double-wide, triple-wide or modular home.  

Year built bust be after 1985 

Home must be permanently attached to a foundation (certified by a licensed engineer/architect) 

Refi mid score is 560 dti 50% 

Purchase mide score is 580 dti 50% 

FHA 203K  down to 600 FICO

FHA Purchase 

FHA Refi 

FHA Refi C/O 

FHA Manufactured Homes 

FIRST GUARANTY MORTGAGE – Click to open 

FHA FICO under 620 and manufactured housing 

HUDSON CITY SAVINGS BANK 

Michael Gannon 

201 967-1900 

mgannon@hcsbnj.com 

Hudson City Savings Bank, based in Paramus, N.J., is charging three-quarters of a point above the full-doc loan rate for borrowers with a well-established credit history and a down payment (or equity) of at least 30% for their Stated Income Program. 

NJ, CT, NY and PA. 

INVESTOR SAVINGS BANK – Click to open

Investors Savings Bank based in Short Hills, N.J., is charging just a quarter-point above the interest rate for fully-documented loans for borrowers with a minimum credit score of 700, a 40% down payment, four months of cash reserves and proof of assets.

LUXURY MORTGAGE – Click to open

Offers FNMA jumbo, FHA, FHA jumbo and super to $2M for O/O properties and second homes.

Currently lending in the following states: AZ, CA, CO, CT, FL, GA, IL, ID, ME, MD, MA, NC, NV, NH, NJ, NY, OK, OR, PA, RI, SC, TX, UT, WA & WY   

PLAZA HOME MORTGAGE – Click to open

                                                                                                                                                                                  They underwriting is pretty comment sense but lean to the conservative side and may not approved a loan that has an Approved Eligible findings especially when the ratios are high.  The have offer the streamline 203(k) and reverse mortgages.  I lock all my streamlines with them as the mirror FHA underwriting with the program. 

AL, AK, AK, AR, CA, CO, CT, DE, FL, GE, HA, ID, IL, IN, IO, KA, KY, MA, MY, MA, MI, MN, MO, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, RI, SC, SD, TN, TX, UT, VT, VI, WA, WDC, WI, WY

RESIDENTIAL HOME FUNDING CORP – Click to open

                                                                                                                                                                                    This lender offer a Streamline 203(k) program and I recently closed a loan with them under the program.  I have to stay their service was very good and will use them again.

NY, NJ, CT, PA, CA, CO, DE, FL, KY, ME, MI, SC, VT

THE MONEY  STORE – Click to open

FHA FICO under 620 

IN, KA, KY, LS, MA, MD, ME, MI, MS, NE, NH, NJ, NM, NY, OH, OR, PA, SD, TN, TX, UT, VA, VT, WA, WS, WV

US BANK – Click to open

Conventional Manufactured Housing Financing

  • Purchase or refinance loans. (No FTHB)
  • Minimum 680 mid score for both borrowers
      -Max 80% LTV. (See state guidelines as some states capped at 75%LTV)
  • Max loan amount $200,000.
  • Owner occupied primary residence.
  • Fixed rates only: 30yr, 20yr & 15yr.
Max. Term Loan Amount Unit Age (years)
30yr >$80,000. <5yrs
20yr <$80,000. <10yrs
15yr N/A >10yrs
  • Only 1st lien positions allowed.
  • No single wides allowed
  • Full URAR Appraisal required.
  • Not allowed: Homes constructed prior to June 15, 1976, and land/home purchase applications.
  • Permanent foundation required
      -No Vinyl, Wood, or Aluminum, Skirting allowed
  • Currently deeded as real estate.

We are lic in: MD, DC, VA, PA, DE, SC and Florida. Pending in NC. We are a small regional lender. FHA down to 600 score. Manufactured homes OK, single and doublewides, no max ratio with DO approval, manual uw with 620 score, cash out refi with 600 score on conforming and jumbo FHA. We really only do FHA although we offer conventional. We are not pricing conventional loans now. Turn times right now about 10 days. We were 3-5 days until TBW went out of business. Good common sense UW. I manage and also UW. Concise scenarios are always welcome. 

Joe Nelson

Underwriting

joe@us-mtg.com

919-538-3541 

Emigrant recently came out with a 90% Second Home Loan for TPO paper and don’t know of another lender that offers the program at this LTV.

Advertisements