• 620 minimum FICO score
• Purchase, rate/term, and cash-out refinance
• LTVs up to 97%
• Fixed terms of 30, 25, 20, 15, and 10 years
• 5/6, 7/6, 10/6 SOFR ARMs
• Income, asset, DTI, condo, and appraisal requirements follow DU findings
• Based on DU findings, we accept an Appraisal Waiver option or a full appraisal
• Transferred appraisals allowed, must follow FAM appraisal transfer policy
• Includes PACE & Energy Payoff, Student Loan Refinance, and Texas Homestead Refinance programs

Finance of America Mortgage TPO is proud to offer the Fannie Mae HomeReady® Mortgage to our brokers. After research and feedback from homebuyers and lenders, Fannie Mae created HomeReady, an enhanced affordable loan. It is designed to meet the diverse financial and familial needs of responsible, creditworthy buyers. The HomeReady Mortgage features low-down-payment requirements to help your low-income borrowers in designated low-income, minority, and disaster-impacted communities.

Key features:

• Purchase and rate/term refinance
• Down payments as low as 3% for 1-unit properties
• 1-4 units, condos, and PUDs
• 30-year fixed terms
• Borrower’s annual income may not exceed 80% of the area median income limits, or income limitations may apply

Unlike many other TPO lenders, Finance of America Mortgage TPO offers the HomeStyle® Renovation loan to our broker partners. With a HomeStyle Renovation loan, your eligible clients can renovate a home to fit their needs and personal style with just one loan that covers the mortgage and improvements. The HomeStyle Renovation loan is a simple, flexible, and affordable mortgage option for your borrowers to finance home renovations.

Key features:

• Utilizes a construction project inspector sourced by a lender
• No minimum in repairs
• 620 minimum FICO score

The HomeStyle® Energy mortgage through Finance of America Mortgage TPO is a good option for your borrowers who want to improve their homes’ energy efficiency. Your borrowers can bundle energy-efficient upgrades into their mortgage — or refinance and pay for the improvements throughout the loan’s lifetime.

E.Z. Path Program

• Makes it easy to finance energy improvements through a completion escrow without the cost of an energy report
• Improvements include ENERGY STAR®-certified products, renewable energy, or projects up to $6,500

Standard Program

• Offers a completion escrow for larger-scale, energy-efficient improvements

Finance of America Mortgage TPO offers the High LTV Refinance Option for your borrowers who find it challenging to secure a standard refinance product. This type of refinancing is for borrowers with a history of on-time mortgage payments, but their LTV ratio is too high for traditional refinancing options.

Loan benefits:

• Reduced monthly principal and interest payment
• Lower interest rate
• Shorter amortization term
• More stable mortgage products, such as moving from an adjustable-rate mortgage to a fixed-rate mortgage

Key features:

• Transferable mortgage insurance to the new loan
• Simplified documentation requirements for employment, income, and assets

Both Desktop Underwriter^® (DU^®) and manual underwriting options are available to the same or a new servicer