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USDA
100% financing
UFMIP 1.0% financed into the loan
Monthly MI factor .35%
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Purchase |
Refinance |
Streamline |
RD Pilot refinance |
Manual UW |
GUS Accept |
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FICO |
620 |
620 |
620 |
620 |
620 (no scores allowed) |
620 |
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LTV |
100% of appraised value + UFMIP |
Loan payoff + UFMIP + standard closing costs |
Loan Payoff + UFMIP (closing costs cannot be financed into new loan |
100% + UFMIP+ Closing costs (max origination .5%) |
100% of appraised value + UFMIP |
100% of appraised value + UFMIP |
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DTI |
45% (Will GUS Accept) |
45% (With GUS Accept) |
NA No Income |
NA No Income |
29/41 (Or 31/41-29/43) |
45% |
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GUS will automatically refer loans below a 640 score for manual UW
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Comp factors that can be used on a DTI ratio waiver are 3 years on the job, 3 months PITI in reserves (Gifts not allowed) housing payment decreasing.
Property eligibility can be found here
Income eligibility can be found here
USDA Guidelines can be found here
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