CONVENTIONAL FINANCING
Agency Fixed Rate Programs
10-30 year Fixed and High Balance
6- and 12-Month Extended Lock options
Builder 2-1 Buydowns Available
ADDITIONAL CREDIT FLEXIBILITIES - CONVENTIONAL
Direct Agency Seller-Servicer
Manufactured Homes
Manual underwrites with extenuating circumstances considered
Financed properties follow agency guidelines
HomeReady / HomePossible
Homestyle Renovation Loans Referral Option
In-house Reno Draws
Reno Specialist handles the referrals
Family First Mortgage Program
Purchase a home for aging parents as primary residence
Purchase a home for handicapped or disabled children as primary residence
FHA FINANCING
Minimum credit score: 580
Minimum credit score High Balance: 640
Scorecard AUS “Approve/Eligible” or LP “Accept”
Programs
Fixed-rate – 15 & 30-year fixed and high-balance options
6- and 12-month extended lock options
FHA Streamline
Scores down to 620
No score requirement for NFM-to-NFM serviced loans
ADDITIONAL CREDIT FLEXIBILITIES - FHA
Manufactured and Modular Homes
HUD REO
HUD with Repair Escrows
FHA 203K Renovation Loans (Full and Streamline)
VA FINANCING
VA Jumbo: 640 to $1M ; 680 to $1.5M
Cash out refinance max LTV 90%
Programs:
15- & 30-year fixed and high balance / Jumbo options
VA IRRRL
No AVM and unlimited LTV options
ADDITIONAL CREDIT FLEXIBILITIES - VA
Vet/Non-Vet Joint transactions
USDA FINANCING
Purchase and refinance
Fixed-rate
30-year fixed
BOND LOANS
Approved with US BANK Mortgage Revenue Bond Division as well as many other state housing finance agencies.
Chenoa 3.5% and 5% DPA Edge FHA products available
NON-COMFORMING JUMBO
NFM Jumbo Program – Delegated – Very aggressively priced
Non-delegated options available
LTV’s up to 90%
Unlimited cash out options
5/5 ARM and 15/15 ARM options
Jumbo Express – Automated Underwriting (AUS) options
Jumbo loan options up to $5M
NFM Security Product – Non-Agency REIT
Alternative outlet for GSE eligible loans
Lower LLPA’s compared to GSE’s
Utilize Agency AUS for credit underwriting
Great outlet for second homes and investment properties
NFM 2nd Mortgage Options
Fixed closed-end 2nds and home equity lines available
Delegated Underwriting
Closes in our name
Non-QM Products for the Non-Traditional Borrower
Bank statements – Bank statements used for qualification
Investor cash flow – Expected rent income used for qualification
Just missed – Qualify, even with unpredictable income or recent credit challenges
Asset qualifier – Assets used to qualify
1099 qualifier –1099 used to qualify
Non-warrantable condo – Financing for non-warrantable condos
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