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Not all borrowers are the same.
We say YES when others say NO. Our FLEX loan looks at each borrower's unique situation, combining common sense underwriting with our flexible NASB guidelines, to help more customers achieve their financial goals. We count virtually any assets you might hold, like a trust or retirement account, as income when qualifying you for a loan. If you are self-employed and fit within standard loan guidelines, our FLEX program can help borrowers finance their dream home.
Our FLEX loan offers you greater flexibility when looking for a home loan by offering:
- Less money down compared to the traditional 20%.
- Shorter waiting periods on a previous bankruptcy or foreclosure.
- FICO score qualification. We can look at qualifying you with the primary household earner's FICO score.
- Use of non-traditional income sources. We count virtually any assets you might hold, like a trust or retirement account, as income when qualifying you for a loan.
- Easier documentation for non-traditional income.
FLEX Loan Guidelines and Requirements
- Maximum loan amount is $500,000, minimum is $100,000
- 15% down payment, or as low as 5% with mortgage insurance
- Minimum FICO score of 675 (primary wage earner)
- A maximum debt-to-income ratio of 48%
- Two-year seasoning required on bankruptcy, four years on short sale or foreclosure