12 MAT LTVs and FICOs.

If you’ve been shut out of the 12 MAT, pick-a-payment mortgage “grab” because you’re FICO score is too low, Mortgage Match may have some good news for you. Borrowers with midscore FICOs as low as 580 can now qualify for an 80% LTV 12 MAT option ARM mortgage. If your midscore is just 20 points higher at 600, then you can qualify for a 90% LTV 12 MAT option ARM. Both of these lower FICO score programs require the borrower to have the ability to go “full doc” on income verification.

If you’re a borrower who has no choice but to go “stated income”, here are some new 12 MAT programs which may help you…

Stated Income/Verified Assets:
– Purchase/ 720 FICO/ 95% LTV up to $500,000.
– Purchase/ 720 FICO/ 90% LTV up to $750,000.
– Purchase & Rate/Term Refinance/ 660 FICO/ 90% LTV up to $500,000.
– Cash Out Refinance/ 660 FICO/ 80% LTV up to $650,000.
– Cash Out Refinance/ 620 FICO/ 75% LTV up to $700,000.

For more on 12 MAT, pick-a-payment mortgages see…
New 12 MAT LTVs and FICOs.
Now there’s a zero down 12 MAT.
12 MAT mortgages… often misunderstood.
Libor vs. MTA vs. COSI and more… common indices for 12 MATs.
The 12 MAT… for mortgages with more control.
The 12 MAT in depth.
Refinancing with the 12 MAT.