FHA DPA
What does DPA stand for?
What is Down Payment Assistance?
What are the 3 purchase types allowed on a Conventional Loan?
What is Primary, Secondary, & Investment properties?
What is 60 days after closing?
Is it a VA Loan that requires a down payment?
No- What is Conventional & FHA Loan Products?
Where did John play football in College?
Missouri State in Springfield
What is the Minimum Credit Score to Qualify for a DPA loan?
What is a 660 credit score?
What is the max DTI % we can go to on a Conventional loan?
What is 50% DTI?
What is the Max Loan amount we can lend on for an FHA purchase?
What is $2Million?
Is it VA that requires 60 days of bank statements on Manual files?
No- What is No loan product REQUIRES this for Manual files.
What does Michael's Wife do for a living?
She is an Art Teacher!
What is the income limit on the DPA loan?
What is There is NO Limit on income?
What loan terms do we offer for a Conventional Purchase?
What is 15,20,25, & 30-year terms?
What is the calculation for MIP on the loan?
What is 1.75% of the loan?
Is it VA that goes by Community Property State Guidelines?
Yes- What is VA & FHA Loan products?
How many kids does the LO Training team have collectively?
What is 10 kids? (Will accept 11)
What state is NOT eligible for a DPA Loan?
What is New York?
What is the max LTV for a 1 unit Cash-Out Refinance?
What is 80% LTV?
What is one of the compensating factors for a Manual file with DTI% 40/50?
- Verified & documented cash reserves
- Minimal increase in housing payment
- Significant additional income in the home
- Residual income
Is it VA that one of the Compensating factors is "No Discretionary Debt"?
No- What is FHA Loan Product?
Where is Dylan from originally?
What is Texas? (DOUBLE points if you know where specifically)
What is the max down payment percentage the DPA loan can cover?
What is 5%?
What is the calculation for student loans in forbearance on a DU approved loan?
What is 1% of the outstanding loan balance?
After how many days of the home being off the market after being listed can we proceed based on property flipping guidelines?
What is 91 days?
Is it VA that allows Max 4 Borrowers on a Loan?
Yes- What is VA & FHA Loan Products?
What is Haley's Middle name?
(Hint- Starts with an A)
What is Alyssa?