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FICO® score at least 580 = 3.5% down payment. FICO® score between 500 and 579 = 10% down payment.
MIP (Mortgage Insurance Premium) is required.
Debt-to-Income Ratio < 43%.
The home must be the borrower's primary residence.
Borrower must have steady income and proof of employment.
Minimum FICO score requirement of 500.
Minimum down payment requirement of 3.5% (10% for scores under 580).
Maximum debt to income ratio of 56.9%.
The borrower must have a 2-year work history with steady income.
You must be able to fully document your income.

Active duty, veterans, National Guard, reserves, and eligible surviving spouses are eligible.
Obtain a Certificate of Eligibility (COE) through the VA or your lender.
No VA minimum credit score, but most lenders require a score of 620 or higher.
Maximum suggested Debt-to-Income (DTI) ratio of 41%, but may be higher with compensating factors.
Must meet regional VA residual income requirements based on family size.
The home must be the borrower's primary residence; investment properties and vacation homes are not eligible.
Eligible properties include single-family homes, VA-approved condos, and certain multi-family units.
The property must meet VA Minimum Property Requirements (MPRs).
A one-time funding fee varies based on service type and down payment, but disabled veterans may be exempt.
No down payment required, but an optional down payment can reduce the funding fee.

The home must be located in an eligible rural area as defined by the USDA.
The borrower must meet income eligibility requirements, typically below 115% of the area median income.
No down payment is required; 100% financing is available.
Mortgage Insurance (MI) is required, with both an upfront guarantee fee and an annual fee.
The borrower must have a minimum credit score, generally 640, but this can vary by lender.
The home must be the borrower's primary residence; investment properties are not eligible.
The borrower must have stable and dependable income with proof of employment.
The property must meet USDA's minimum property standards for safety and livability.
The Debt-to-Income (DTI) ratio should not exceed 41%, but higher ratios may be accepted with compensating factors.
The borrower must demonstrate the ability to repay the loan with a satisfactory credit history.

Minimum FICO® score of 620 or higher is typically required, depending on the lender.
A down payment of at least 3% is required, but a higher down payment can reduce mortgage insurance costs.
Private Mortgage Insurance (PMI) is required if the down payment is less than 20%.
The Debt-to-Income (DTI) ratio should generally be 43% or lower, though some lenders may allow up to 50% with strong compensating factors.
The borrower must have a stable income and proof of employment.
The loan is typically used for a primary residence, but second homes and investment properties are also eligible.
The borrower must have a good credit history, with no recent bankruptcies or significant delinquencies.
The property must meet conventional loan guidelines for safety, structure, and livability.
Loan limits are set by the Federal Housing Finance Agency (FHFA) and may vary by location.
The borrower must provide full documentation of income, assets, and credit history.

Minimum FICO® score of 660 or higher is typically required, but some lenders may require a higher score.
A minimum of 20% equity in the home is generally required to qualify.
Debt-to-Income (DTI) ratio should not exceed 43%, but some lenders may allow up to 50% with strong compensating factors.
The home must be the borrower's primary residence, though some lenders may allow HELOCs on second homes or investment properties.
The borrower must have a stable income and proof of employment to demonstrate the ability to repay the loan.
The loan amount is determined by the amount of equity available in the home and the lender's guidelines.
The borrower must have a good credit history, with no recent bankruptcies or significant delinquencies.
Interest rates are typically variable and can fluctuate over the life of the loan.
The borrower must provide full documentation of income, assets, and credit history.
The HELOC typically has a draw period (usually 10 years) followed by a repayment period (usually 20 years).

Minimum FICO® score typically required is around 640, though some lenders may require a higher score.
A down payment of 20-30% is generally required, depending on the borrower’s profile and property type.
No private mortgage insurance (PMI) is required, regardless of the down payment amount.
Debt Service Coverage Ratio (DSCR) is used to qualify; typically, a DSCR of 1.0 or higher is required, meaning the property's income must at least cover the loan payments.
Debt-to-Income (DTI) ratio flexibility; may exceed 43% if other compensating factors, such as high reserves or significant assets, are present.
Alternative income verification methods are allowed, such as bank statements, asset depletion, or profit and loss statements.
The loan can be used for investment properties, with primary residences and second homes also eligible in some cases.
The borrower must have a stable income or demonstrate a consistent cash flow, but traditional W-2 forms are not required.
The property must meet the lender's guidelines for safety, structure, and livability, though standards may be more flexible than conventional loans.
Non-QM loans, including those based on DSCR, are not subject to the same regulations as Qualified Mortgages (QM), allowing for more flexible underwriting criteria.

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