CONV

Overlays

VA

Overlays

FHA

Overlays

USDA

Overlays

ERW

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Min

Score

DTI

Non

Traditional

Notes

680

Per GUS

No

  • No Streamline refinance or pilot program allowed

  • Manual U/W allowed

  • Attached condominiums must meet FHA minimum project standards and be located in a project on FHA’s Approved Condominium Project List    

  • No Flips

  • Escrow required for taxes & insurance 

  • Non-traditional forms of currency are not acceptable - i.e.-cryptocurrency, bitcoin, etc.

BBT

640

Per

GUS

No

  • GUS approval required, no manual u/w

  • Repair Escrows are not allowed

  • Allow section 8

  • Streamlined Assist is available when existing USDA Guaranteed loan is serviced by BBT

  • For attached PUD, HO3 policy required regardless of insurance coverage HOA offers 

  • Non-traditional credit is required for borrowers with one credit score

  • Escrow required for taxes & insurance 

  • Will not allow frozen credit

  • Will not accept Cryptocurrency

  • Seller seasoning

    • Seller must have held title at least 10 days prior to closing​

    • Sales contract cannot reflect buyer as 'to be determined' or reference an assignment of contract

    • If sales price is 25% or more than the sellers acquisition price, we must document/justify the increase

USB

680

Per GUS

No

  • Will not allow BK or FC that has not been seasoned 3 years

  • HOI-Max deductible greater of $1,000 or 1% of the face value of the policy

  • Will not accept Cryptocurrency

  • Frozen Credit-With a valid tri-merge credit report, USB will accept one frozen repository 

  • No sweat equity

  • Alimony payments should be treated as a debt in liabilities

  • All delinquent credit must be paid off at or prior to closing, including taxes, judgments, and collections, mechanics' liens, and liens that have the potential to affect lien position or borrower's equity.

  • No flipped properties, must be seasoned 180 days.

  • No manual UW's

ERP

620

Per GUS

No

  • Minimum loan amount $50,000

  • New build-must provide RE tax amount with county based on purchase price OR must use ERP State Property Tax Matrix

  • Escrow required for taxes & insurance 

  • Manufactured home properties must be deeded as real estate prior to closing

HNB

680

Max 43%,

No manual

UW

Yes

  • Principal residence (1 unit)- *Condos/Puds permitted (must be FNMA or HUD eligible)

  • Title commitment cannot be dated more than 60 days from closing 

  • Subject property cannot be in a flood zone

  • Escrow required for taxes & insurance