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on Home Loans
Online Since 2001 - Over 5,000,000 Visitors to Date |
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common credit
requirements |
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Most mortgage lenders will require a good credit history. There
are programs available to those who have experienced credit problems in
the past but most lenders have credit score minimums. These
minimums may be exceeded if the borrower has compensating factors such
as strong assets and low debt-to-income ratios but it is always on a
case by case basis. The chart below represents some of the average
lender requirements for "Interest-Only" loans but in no way implies that
there are not loans available to applicants outside of these ranges.
Contact a mortgage lender
for more information.
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Credit Score |
Income Documentation Options * |
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Above 720 |
Full Documentation
No Income / No Assets (NINA)
No Ratio
Stated Income
Stated Income / Stated Assets
- Maximum Loan Amounts may Apply to programs other than
full documentation -
- Investment properties are limited to some of the products
listed above -
- Contact a mortgage professional for
more info - |
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Above 680 |
Full Documentation
No Income / No Assets (NINA)
No Ratio
Stated Income
Stated Income / Stated Assets
- Maximum Loan Amounts may Apply to programs other than
full documentation -
- Investment properties are limited to some of the products
listed above -
- Contact a mortgage professional for
more info - |
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Between 660-680 |
Full Documentation
Stated Income
Stated Income / Stated Assets
- Maximum Loan Amounts may Apply to programs other than
full documentation -
- Investment properties are limited to some of the products
listed above -
- Contact a mortgage professional for
more info - |
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Between 620-660 |
Full Documentation
- Maximum Loan Amounts may Apply to programs other than
full documentation -
- Investment properties are limited to some of the products
listed above -
- Contact a mortgage professional for
more info - |
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