What is the QM Community Loan Program?
QM Community Loan: QM Community Loan is a product tailored especially for home buyers with low credit scores and minimal down payments. It welcomes first-time home buyers without any income limits.Available for FNMA DU purchase only & FHLMC LP Loans.
QM Community Loan Program Highlights
Max. LTV 97%
♦ NO AGENCY ADJUSTMENTS
♦ CASH-OUT ADJUSTMENT WAIVED
♦ NO HIGH BALANCE ADJUSTMENT
♦ NO CONDO/2-4 UNITS ADJUSTMENT
♦ NO HOMEOWNER EDUCATION / NO INCOME RESTRICTIONS
♦ FOR PRIMARY RESIDENCE
Primary Home Only
1) Loan Amount: Follow Agency Loan Limits
2) Loan Purpose: Purchase, Rate/Term Refinance, Cash Out Refinance
3) Reserves: Follow AUS Results
Available in AZ,CA,CO,DC,FL,GA,HI,IL,IN,MD,MI,MN,NE,NM,NC,NV,OH,OK,OR,PA,SC,TN,TX,VA,WA,WV.
Click here to easily check property eligibility and find the listings of eligible properties.