Guaranteed Residential Loans
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Loan up to 102% of appraised value.
Wrap closing costs in when appraisal exceed contract (loan not limited to contract)
No mortgage insurance.
No credit explanations when credit score is 620 or above.
No minimum credit score.
No reserves required.
No cash contribution required from borrower.
Unrestricted gifts, no need to document source.
No max loan amount.
Repayment Ratios are 29/41. Liberal ratio waivers with documented compensating factors.
31/43 for homes built post January 1, 2001.
No limit on total debt to value ratio (CLTV)
Non-traditional credit may substitute for lack of traditional credit history.
Not limited to first-time home buyers.
Very competitive rates (set by underwriting lenders).
