First Option Mortgage

FHA Loan

• Minimum credit score 580
• Manual Underwriters
• Back to Work Program
• Fixed Rates and ARMs
• Manufactured Homes are eligible
• Gift funds allowed for down payment closing costs

VA Loan

• Minimum credit score 580
• IRRL without Appraisal
• Up to 700% LTV Cash Out
• Manual Underwrites
• Fi xed Rates and ARMS
• Manufactured Homes are eligible

Fannie Mae Standard

• Standard
• 97% LTV
• Must be First-time Home Buyer
• No Income Limits
• No homeownership education required
• 620 FICO

Conventional Loan

• 620 FICO
• Up to 95% LTV/CLTV
• Up to 97% LTV/(H)CLTV on certain Fannie Mae loans
• Second Homes and Investment
• 5 -10 properties
• Flips allowed

Freddie Mac Home Possible

• All borrowers must occupy property
• Borrowers may not own any other property
• 1 unit, PUD's and condos only
• Must meet income limits
• Gifts Allowed
• Homeownership counseling required
• No 2-4 unit properties

USDA Loan Program

• Minimum credit score of 580
• Manual Underwrites