Matrix: Prime First Mortgages
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terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program details. If you believe data is inaccurate or misrepresented, please e-mail: matrixfeedback@scotsmanguide.com.
Stearns Lending LLC NATIONWIDE except: N Y
800-350-5363 www.stearnswholesale.com
Conf 1 unit Full V V V Y O PR 1 620 97/453 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 90/453 50 0/12 90 NA F See Guides FNMA 5-10 financed OK
Conf NOO Full V V V Y N P 1 620 85/453 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 80/453 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 97%; 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
I=Income
E=Employment
A=Assets 45=4506
V=Verified S=Stated
O
V
N
P
R
C FICO %/$K %/$K %/$K FICO
Ratio
%
Mtg
Lates
30s
in the
Last
Mo
to
%
I/O
Period
Yrs
Fixed,
ARM,
Both
F/A/B ARM Terms
LTV / LOAN AMOUN T
Combinations tied to different scores
COMMENTS
CLTV
OCC PURP
DTI LTV / LOAN AMOUN T
DOCUMEN TATION MTG
LATES
#
UNITS PROGRAM NAME
