CREDIT PARAMETERS	FHA FULL DOC	FLEXIBLE ADVANTAGE*	FLEXIBLE ADVANTAGE PLUS*	PRIME ADVANTAGE*
FICO	500+	550+	620+	660+
MORTGAGE/RENTAL  HISTORY	0x30	0x60 up to 0x12	1x30	0x30
BK/FC SEASONING	BK 24 Months, FC 36 Months	0-24 Months	36 Months	38 Months
MAX DTI	Per AUS up to 57% (Manual to 50%)	43% Standard (Expanded up to 50%)	50% Standard	43% Standard (Expanded to 50%)
MORTGAGE INSURANCE PREMIUMS	1.75% UFMIP; 80-105bps MMI	None	None	None
RESIDUAL INCOME	N/A	$1,500 + $150/Dependent	$2,500 + $150/Dependent	$2,500 + $150/Dependent
RESERVES	0-3 Months (Per AUS)	3 Months	6 Months	6, 9, OR 12 Months based on loan size
LTVS UP TO	96.5% (90% BELOW 580 FICO) 80% Cash-out	80% PUR/RT 70% Cash-out	80% PUR/RT 75% Cash-out	90% PUR/RT 80% Cash-out
MAX LOAN AMOUNT	Conforming limits by county 1-unit high-balance limit $765,600	$1,500,000	$2,000,000	$2,500,000
CASH-OUT MAX	Per AUS	$250,000	$500,000	$500,000

 

OTHER PARAMETERS	FHA FULL DOC	FLEXIBLE ADVANTAGE*	FLEXIBLE ADVANTAGE PLUS*	PRIME ADVANTAGE*
ARM PRODUCTS	Fixed Only	5/1, 7/1, 10/1 5/1, 7/1, 10/1 Interest-only	5/1, 7/1, 10/1 5/1, 7/1, 10/1 Interest-only	5/1, 7/1, 10/1 5/1, 7/1, 10/1 Interest-only
INELIGIBLE STATES	MA, ND (CMS licensing)	MA, ND (WV: NO Interest-only) NY: Max Conf Balance + $1 NY: CEMA not allowed	MA, ND (WV: NO Interest-only) NY: Max Conf Balance + $1 NY: CEMA not allowed	Not Available in all states, SEE GUIDELINES for Details
QM FEES	Limited to QM, 3% limit	Limited to Sect. 32, 5% limit	Limited to Sect. 32, 5% limit	Limited to Sect. 32, 5% limit

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