HomeBridge has updated the FHA and FHA Streamline program matrices to indicate that 5/1 ARMs are qualified at the Note rate.
HomeBridge would also like to remind brokers that the maximum LTV on the FHA program when the borrower’s credit score is between 620 and 639 is as follows:
- Borrowers with documented housing history are limited to a maximum 95% LTV (purchase and rate/term refinance transactions) with a maximum 50% payment shock.
- Borrowers without documented housing history are limited to a maximum 90% LTV (purchase transactions).
The updated FHA and FHA Streamline matrices have been posted on our website at www.homebridgewholesale.com.
If you have any questions, please contact your Account Executive.