Matrix: Prime First Mortgages
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Stearns Lending LLC NATION WIDE except: N Y
Conf 1 unit Full V V V Y O PR 1 620 97/424 50 0/12 105 NA F Max 90% FNMA PI W; LP/FHLMC OK; >95% DU
Conf 2nd home Full V V V Y V PR 1 620 90/424 50 0/12 90 NA F See Guides FNMA 5-10 financed OK
Conf NOO Full V V V Y N P 1 620 85/424 50 0/12 80 NA F See Guides FNMA 5-10 financed OK
Conf C/O OO Full V V V Y O C 1 620 80/424 50 0/12 80 NA F See Guides 6 mo. seasoning
High Bal OO Full V V V Y O PR 1 620 95/636 50 0/12 95 NA F See Guides FNMA; for FHLMC see guidelines
High Bal C/O Full V V V Y O C 1 620 80/636 50 0/12 80 NA F See Guides
Jumbo Full V V V Y O PR 1 700 80/1500 720 70/2000 43 0/12 80 NA B See Guides Call AE for more jumbo options
Jumbo C/O Full V V V Y O C 1 740 70/2000 43 0/12 70 NA B See Guides Call AE for more jumbo options
LTV>80% subj to MI; Jumbos; LPMI to 95%; Open Access HVE; DU Refi Plus PI W; HARP MI transfer with UGI, MGIC, Radian, PMI, Genworth, RMIC; seller-paid and lender-paid buydowns available, call for details; DU and LPA.
HomeReady and Home Possible offered.
This matrix should be used to find detailed program criteria for first mortgages only.
Please consult the Prime Niches matrix for other program/product information or unusual property/loan characteristics.
LEGEND: P=Purchase; R=Rate and Term Refi; C=Cash-Out Refi; O=Owner-Occupied; V=Vacation Home; N=Non-Owner-Occupied; NINA=No Income, No Asset;
SISA=Stated Income, Stated Asset; SIVA=Stated Income, Verified Asset; I/O=Interest Only; F=Fixed Interest Rate; A=Adjustable Rate Mortgage (ARM); B=Both
All parameters on each line are used in combination
with one another — each line represents a specific
loan scenario or credit grade
Type I E A 45
C FICO %/$K %/$K %/$K FICO
F/A/B ARM Terms
LTV / LOAN AMOUN T
Combinations tied to different scores
DTI LTV / LOAN AMOUN T
DOCUMEN TATION MTG
UNITS PROGRAM NAME