| Rating |
Mortgage History
|
FICO Score
|
Bankruptcy Discharged
|
Notice of Reinstatement or Foreclosure Sale Date
|
Maximum Loan to Value
|
|
| AA |
1 x 30
|
640 or greater
|
3 years since discharge or dismissal
|
5 years
|
Can finance up to 100% of purchase price or market value
|
|
| A- |
2 x 30
|
600 or greater
|
2 years since discharge or dismissal
|
3 years
|
Can finance up to 90% of purchase price or market value
|
|
| B |
|
560 or greater or *
|
Chapter 7 - 1 year from discharge; Chapter 13 - 1 year from discharge or 2 years from dismissal
|
2 years
|
Can finance up to 80% of purchase price or market value
|
|
| C |
1 x 90
|
520 or greater or *
|
1 year since discharge or dismissal
|
1 year
|
Can finance up to 75% of purchase price or market value
|
|
| C- |
2 x 90
|
500 or greater
|
Chapter 13 must be paid off at funding; Chapter 7 must be discharged one day prior to closing
|
No NOD at funding
|
Can finance up to 70% of purchase price or market value
|
|
| D |
1 x 120
to current foreclosure
|
500 and below
|
Chapter 13 must be paid off at funding; Chapter 7 must be discharged one day prior to funding
|
Can be currently in foreclosure
|
Can finance up to 65% of purchase price or market value
|
|
|
* Some restrictions may apply. Other programs may be available on a case-by-case basis. |
