Residential Loan Guidelines

LOAN TO VALUE
Up to 70% on single family owner occupied homes
Up to 70% on mobile homes of any age (including pre-1976), improved land, and mixed use
Up to 65% on vacant land

TERM
Up to 360 months for single family owner occupied
Up to 240 months for mobile homes, improved or vacant land, non-owner occupied and mixed use properties
(Loans may be subject to 7 yr. balloon if rate is less than 11%

FNBA FEES
Typical minimum fee of $900 or 2% (whichever is higher) - will vary based on creditworthiness and overall risk of the loan. 3% prepayment penalty for first year of the loan and 2% in year two.

DTI LIMITS
Monthly Income....................Max Debt-to-Income Ratio
Under $2000..........................................35%
$2001 - $2500........................................40%
$2501 - $4000........................................45%
Over $4000...........................................50%