SPM Loan Product Booklet

SPM Loan programs

CONVENTIONAL

loan programs

These loans are available for 1-4 Unit Primary Residences, 2nd Homes (SFR, Condo, or PUD), and Investment Properties with either Conforming or High-Balance loan amounts and offer multiple options for Private Mortgage Insurance (when required).

AVAILABLE LOAN PROGRAMS:

FNMA and FHLMC Fixed-Rate Program

FNMA and FHLMC Adjustable-Rate Mortgage (ARM) Program

FNMA and FHLMC Manufactured Home Programs

FNMA DACA Recipient Program

FNMA Homestyle Renovation Program

FNMA and FHLMC Accessory Dwelling Unit (ADU) Programs

FNMA and FHLMC Asset Depletion Program

FNMA HomePath Program

Wage Earner XPress Program

Agency Second Home & Investor Program

FNMA and FHLMC Unique Property Type Program

affordable

loan programs

Specialized loan programs tailored to the specific needs of low-tomiddle income borrowers.

First-Time Home Buyers, borrowers working in certain professions, and then those purchasing homes in specially designated “Underserved Communities”.

AVAILABLE LOAN PROGRAMS:

FNMA HomeReady program

FHLMC HomePossible program

FHLMC HomeOne program

One Dream One Percent

State and Local Bond Loan programs

Community Lending programs

Temporary Buydown programs

STATE BOND programs

AVAILABLE LOAN PROGRAMS:

ARIZONA

NORTH

CAROLINA

OREGON

PENNSYLVANIA

RHODE

ISLAND

SOUTH

CAROLINA

TENNESSEE

TEXAS

VIRGINIA WASHINGTON

FEDERALHOUSING ADMINISTRATION

loan programs

FHA-insured loans require very little cash investment to close a loan and can be used to finance a 1-4 Unit

Primary Residence.

AVAILABLE LOAN PROGRAMS:

FHA Standard Fixed-Rate Program

FHA Manual Underwriting

HUD $100 Down Payment

FHA Streamline Refinance Program

FHA Single-Unit Approval Program for non-warrantable Condos

FHA DACA Recipient program

FHA ITIN Program

FHA Manufactured Home program

veterans administration loan programs

VA loans offer long-term financing for active-duty U.S. Service Member, eligible American Veterans, Reservists, or their surviving spouses.

Depending on the Veteran’s Entitlement, 100% Financing is available up to $1.5M, with loan amounts available.

AVAILABLE LOAN PROGRAMS:

VA Fixed-Rate program

VA High LTV Cash-Out Refinance Program

VA Manufactured Home Program

VA Joint Loan Program

VA IRRL

VA Manual Underwriting

USDA

loan programs

The USDA (US Department of Agriculture) Guaranteed Rural Housing program provides homeownership to individuals buying homes in qualifying “rural” areas.

AVAILABLE LOAN PROGRAMS:

USDA Fixed Rate

USDA Streamlined Assist Refinance Program

USDA New and Existing Manufactured Home Program

USDA Low Fico Program

USDA Manual Underwriting

alternative income documentation loan programs

AVAILABLE LOAN PROGRAMS:

Debt Service Coverage Ratio (DSCR) Programs

Allow Property Investors to qualify for the loan based on the property’s ability to cover its monthly operating costs, not on the borrower’s Debt-to-Income Ratio

Bank Statement Programs

Verifies a self-employed borrower’s income using cash flow from either Personal or Business bank statements, without the need to provide income tax returns

1099-Only Program

For borrowers whose employers have converted them from statutory employees to independent contractors

Wage Earner Xpress

Automatic validations eliminate the need for Paystubs and W-2s

1-Year Income Documentation Program

Only requires 1 year of income documentation vs. the standard 2-years.

Asset Depletion Program

Calculates a monthly stream of repayment income based on liquid balances in depository, investment, and retirement accounts