CP's
This is what CP stands for
This is the minimum down payment required for a FHA loan.
What is 3.5% of the purchase price?
This is not required on Neighbhorhood loans, but most of the time they are one.
What is a first-time homebuyer?
This is how many years of personal tax returns are required for lot loans.
This is the maximum housing DTI allowed on Launch
What is 40%?
This is how many draws are normally done on a CP loan, not a jumbo
This is what UPMIP stands for
What is up front mortgage insurance premium?
What is 43%?
This is the amount of increase or decrease from year to year that is required to be addressed.
What is 10%?
This is the "Up to" amount of assistance on this program.
What is $20,000 or 20% of the purchase price, whichever is less?
Once the no lien is drafted, this is the person it should go to for approval
Who is Kerry Mann?
If a subject property is resold within 91-180 days of the seller's acquisition AND the new sales price is 100% or more above seller's original purchase price, this is required.
What is a second appraisal?
How many months must rent history be verified.
What is 24 months?
This is the numerical name for a corporate return.
What is 1120?
This is the amount the borrower is required to contribute.
What is $500?
This is what Alta 32 & 33 are called
What is mechanic's lien coverage?
A borrower can have two FHA loans. True or False?
This is the amount of months that a borrower must not have had credit counseling.
What is 36 months?
When using self-employed income, you always need the W2 that is from that business. True or False?
False, if not using the W2 portion of the SEI, it is not required.
This is required to be counted as income for Launch even if we can't verify receipt to use for income to qualify.
What is child support?
This is the highest amount allowed for a soft cost draw
What is 10% of cost to construct?
Installment loans with less than 10 payments are normally not included in the borrower's debt unless...
What is the payment is 5% of the borrower's gross monthly income?
This is the amount of cash back allowed at closing
On a 1065 business, this form number shows the depreciation of rental properties.
What is form 8825?
What is 30 days?