Contact Information
Direct: (800) 864-3560
Email: Send Email

Turn Times

Initial submission: 3 Business Days

Resubmission: 1-2 Business Days

 

PHM ID's

FHA 2402100003

VA ID 7852160000

NMLS # 162291

Mortgagee Clause

Premier Home Mortgage, Inc.

Its Successors and or assigns

3024 Tower Road

Rapid City, SD 57701

USDA

 USDA

100% financing

UFMIP 1.0% financed into the loan

Monthly MI factor .35%

  Purchase Refinance Streamline RD Pilot refinance Manual UW GUS Accept
FICO 620 620 620 620 620 (no scores allowed) 620
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
DTI 45% (Will GUS Accept) 45% (With  GUS Accept) NA No Income NA No Income 29/41 (Or 31/41-29/43) 45%

 

  • GUS will automatically refer loans below a 640 score for manual UW
    • 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

USDA USDA Upfront Announcement    PDF  131.24k    
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