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Download Streamline Program Guidelines.pdf

orange_vip_fha_streamline_program_guidelines_12-30-16.pdf

Preview of Download Streamline Program Guidelines

🔗 Source: vipwholesalelending.com

📊 Size: 273 KB

👤 Author: Admin2

⬇️ Downloads: 251

Summary

Owner-occupied and investment properties are eligible for FHA Streamline Refinance with minimum FICO scores of 620 and 640, respectively. Manual underwriting is required, and the maximum loan amount is the lesser of the outstanding principal balance or the original principal balance. Borrowers must provide a signed LOE for delinquent credit and a mortgage rating with credit scores for non-credit qualifying streamlines. The program has specific guidelines for mortgage lates, collection accounts, short sales, bankruptcies, and foreclosures. A Net Tangible Benefit is required, with reduced Combined Rates, terms, or a change from an ARM to a fixed-rate mortgage. Documentation requirements include mortgage history, payment history, and employment information. Maximum DTI ratios are not calculated for non-credit qualifying streamlines, but are required for credit-qualifying streamlines. State restrictions apply, and termite inspections and appraisals are not required. Investment properties have specific guidelines, including no manufactured homes, fixed-rate only, and a maximum 4-unit limitation.

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Description

Owner-occupied and investment properties are eligible for FHA Streamline Refinance with minimum FICO scores of 620 and 640, respectively.

Technical Information

File Format: PDF
File Size: 273 KB
Pages: 4
Language: EN
Author: Admin2
Total Downloads: 251
Last Updated: 1 week ago

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This PDF document about Download Streamline Program Guidelines provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Download Streamline Program Guidelines.