Find the Right Non-QM Loan

CREDIT PARAMETERS	FHA FULL DOC	FLEXIBLE ADVANTAGE	FLEXIBLE ADVANTAGE PLUS	PRIME ADVANTAGE
FICO	500+	550+	620+	660+
MORTAGE/RENTAL HISTORY	0x30	0x60 up to 0x120	1x30	0x30
BK/FC SEASONING	BK 24 months, FC 36 months	0-24 months	36 months	48 months
MAX DTI	Per AUS up to 57% (Manual to 50%)	43% Standard (Expanded to 50%)	50% Standard	43% Standard (Expanded to 50%)
MORTGAGE INSURANCE PREMIUMS	1.75% UFMIP; 80-105bps, MMI	None	None	None
RESIDUAL INCOME	N/A	$1,500 +$150/Dependent	$2,500 +$150/Dependent	$2,500 +$150/Dependent
RESERVES	0-3 Months (Per AUS)	3 Months	6 Months	6, 9, or 12 Months based on loan size
LTVS UP TO	96.5% PUR/RT 80% Cash-out	80% PUR/RT 70% Cash-out	80% PUR/RT 75% Cash-out	90% PUR/RT 80% Cash-out
MAX LOAN AMOUNT	Conforming limits by county 1-unit high-balance limit: $765,600	$1,500,000	$2,000,000	$2,500,000
CASH-OUT MAX	Per AUS	$250,000	$500,000	$500,000

OTHER PARAMETERS	FHA FULL DOC	FLEXIBLE ADVANTAGE	FLEXIBLE ADVANTAGE PLUS	PRIME ADVANTAGE
ARM PRODUCTS	Fixed only	5/1, 7/1, 10/1 5/1, 7/1, 10/1 Interest-only	5/1, 7/1, 10/1 5/1, 7/1, 10/1 Interest-only	5/1, 7/1, 10/1 5/1, 7/1, 10/1 Interest-only
INELIGIBLE STATES	MA, ND (CMS licensing)	MA, ND (WV: no interest-only) NY: Max Conf Balance + $1 NY: CEMA not allowed	MA, ND (WV: no interest-only) NY: Max Conf Balance + $1 NY: CEMA not allowed	Not available in all states. SEE GUIDELINES for Details.
QM FEES	Limited to QM, 3% limit	Limited to Sect. 32 32, 5% limit	Limited to Sect. 32 32, 5% limit	Limited to Sect. 32 32, 5% limit