Uncategorized Archives - MFG Banking https://mfgbanking.com/category/uncategorized/ Wholesale Mortgage Lender Thu, 26 Oct 2017 19:31:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.11 Improvements to 1000 Series Super Jumbo https://mfgbanking.com/improvements-1000-series-super-jumbo/ Thu, 26 Oct 2017 19:27:16 +0000 http://mfgbanking.com/?p=2289 Previously Condominiums were not allowed; now Attached Condominiums are allowed for certain LTVs on Primary Residence & 2nd Home, Purchase and Rate/Term Refinances with restrictions (see grid). Detached Condo allowed with same guidelines as SFR. […]

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  • Previously Condominiums were not allowed; now Attached Condominiums are allowed for certain LTVs on Primary Residence & 2nd Home, Purchase and Rate/Term Refinances with restrictions (see grid). Detached Condo allowed with same guidelines as SFR.
  • Previously Investment properties were not allowed, and now are allowed for purchase and rate term refinance.
  • Cash Out Refinance on Primary residence, loan amount for SFR increased from $1m to $1.5m for certain loans which meet specific credit score and LTV guidelines.
  • Non-Permanent Resident Aliens are now allowed on Primary Residence.
  • Property may now be up to 15 acres.
  • 2nd Home minimum credit score requirement is for the better.
  • Reserves requirements are now clear, concise, straightforward, see grid. (Reserve requirements are now indicated on grid).

    • View 1000 Series Super Jumbo Matrix

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