FHA

Non-occupant co-client and rent free clients are ineligible for financing.

The client must meet the following: 

· Have a co-signer with a 640 FICO or greater in order to meet FHA Refer guidelines.

· Have 3 non-traditional credit references. See the Non-traditional Credit References page for additional information.

The maximum housing ratio is 31%.

The maximum total DTI is 43%.

FHA 0/No FICO is allowed on the following transactions:

· Purchase

· Rate and term and cash out refinance

· Streamline

· New Construction

The product must meet all of the following:

· Fixed Rate

· Manually downgraded to Refer/Eligible

o The co-client with the 640 FICO or greater is used to meet Refer guidelines of minimum credit score requirements.

FHA Jumbo loans are not allowed.