Fannie Mae
This automated underwriting system returns an Approve/Eligible finding for Fannie casefiles.
What is Desktop Underwriter (DU)?
This automated underwriting system can return Accept/Eligible for a Freddie casefile.
What is Loan Product Advisor (LPA)?
This document establishes a veteran's VA loan eligibility and is required on all VA loans in ZHL's matrix.
What is a Certificate of Eligibility (COE)?
On a standard FHA purchase, the minimum required investment is this share of the purchase price.
What is 3.5%?
In Home Alone, this last-named family accidentally leaves Kevin behind in its large suburban home.
Who are the McCallisters?
This Fannie low-down-payment product appears alongside Freddie's Home Possible in ZHL's 95–97% LTV purchase matrix.
What is HomeReady?
This Freddie low-down-payment offering is paired with Fannie's HomeReady in ZHL's 95–97% LTV purchase matrix.
What is Home Possible?
For eligible VA purchases within the applicable ZHL matrix tier, this LTV permits no down payment, excluding any financed VA funding fee.
What is 100% LTV? Not every loan amount qualifies for the same maximum LTV.
ZHL's FHA purchase matrix permits this many units in an eligible principal residence.
What are one to four units?
This Pixar film sends Carl Fredricksen's house skyward with thousands of balloons.
What is Up?
For a qualifying one-unit principal-residence fixed-rate purchase, ZHL's conforming matrix lists this maximum standard LTV.
What is 97% LTV?
This is the highest LTV and lowest credit score permitted for a Manufactured Home.
What is 95% LTV and 620 credit score?
VA underwriting examines this amount left after debts, obligations, and shelter expenses to cover family living costs.
What is residual income?
For ZHL FHA purchases with scores in the 580–619 band, this automated result is required; a manual underwrite is not available in that band.
What is AUS approval?
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What is Full House?
ZHL's matrix lists this maximum number of borrowers for a Fannie Mae conventional loan.
What is four?
You can ignore cosigned debt under these circumstances.
-What are 12 on time payments made by the person you cosigned for from their own bank account made directly to the debtor?
(All conventional and FHA) (VA varies slightly stating evidence that someone else is paying, the obligation is current and the is no reason to believe borrower will have to participate in repayment)
Under the VA matrix, the seller-concession cap is this percentage of the property's value; ordinary buyer closing costs and market-appropriate points are not counted in that concession cap.
What is 4%?
Seller or other interested-party contributions may cover eligible FHA closing costs, but may not be used for this 3.5% requirement.
What is the borrower's minimum required investment (MRI)?
Will Smith moves from West Philadelphia to this upscale Los Angeles neighborhood to live with his aunt and uncle.
What is Bel-Air?
For ZHL's eligible conventional 2/1 temporary rate buydown, this party must pay the entire buydown fee.
Who is the seller? Subject to interested-party contribution limits; HomeReady is excluded from that 2/1 product.
In the matrix's Home Possible purchase column, qualifying borrower income is limited to this share of area median income.
What is 80% of AMI?
A VA purchase has DTI above 41%. Under the ZHL matrix, residual income generally must exceed this percentage of the normal residual requirement, unless the cited VA handbook alternative is met.
What is 120%?
This is the amount of collections you have to have in order to add this much payment to liabilities.
What is $2000 cumulative collections and 5% payment?
The Simpsons live at this fictional street address in Springfield.
What is 742 Evergreen Terrace?