Radian Mortgage Capital Product Requirements

Agency Loans*

GSE conforming and Freddie Mac eligible loans

 Minimal overlays to GSE guides
 660 FICO  95% LTV 50% DTI 

Additional requirements include:

  • No coops, IL Land Trust, Manufactured, Mixed-use, >20 acres, deed restrictions, inclusionary zoning, property flips <90 days, attorney opinions of title, general POA, temporary buydowns (see program guide for additional details)
  • Freddie Conforming and Super Conforming only, no specialty programs
  • DU Approve/Eligible or LPA Accept/Streamline Accept only, no manual underwrite



Agency Enhanced Loans*

Fannie Mae and Freddie Mac eligible NOO, second home, and other loans with higher GSE LLPAs

 Minimal overlays to GSE guides
 660 FICO  95% LTV 50% DTI 

Additional requirements include:

  • No coops, IL Land Trust, Manufactured, Mixed-use, >20 acres, deed restrictions, inclusionary zoning, property flips <90 days, attorney opinions of title, general POA, temporary buydowns (see program guide for additional details)
  • Fannie and Freddie standard conforming and high balance/super conforming only, no specialty programs
  • DU Approve/Eligible or LPA Accept/Streamline Accept only, no manual underwrite

 

Prime Jumbo QM Fixed Loans*

Prime jumbo fixed rate mortgages for owner occupied, second homes, and investment properties. 

 Owner Occupied Second Home Investment Property
 89.9% LTV 85% LTV 70% LTV
680 FICO 720 FICO 740 FICO
45 DTI 40 DTI 38 DTI
$2.5mm $2.5mm $1.5mm

Additional requirements include:

  • No MI on LTVs greater than 80%
  • 0.49% and 0.99% rate options now available
  • Guidelines provide for: RSU income, Departure Residence Pending Sale, Cryptocurrency (if converted), Business Funds, Leaseholds, IL Land Trust, Delayed Purchase Refinance, Texas (a)(6), etc.
  • Manual underwrite

 

*This is a product summary; the RMC Sales Guide must be referenced for complete underwriting guideline requirements. Information is accurate as of the date of publishing and is subject to change without notice. Any overlays outlined in this product matrix apply to agency loans submitted to DU/LPA. In addition to applying RMC specific overlays, all loans submitted to DU must comply with the DU Findings and Fannie Mae requirements and all loans submitted to LPA must comply with the LPA Findings and Freddie Mac requirements. The information presented should not be relied upon or treated as legal advice. Guidelines subject to change without notice.

Mortgage services provided by Radian Mortgage Capital LLC, 1700 N Lincoln Street Suite 2500, Denver, CO 80203. Corp NMLS#: 1982356