One Underwrite (AUS) Agency AUS Approve, Accept/Eligible

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1 One Underwrite (AUS) Agency AUS Approve, Accept/Eligible 620 FICO 3 4 unit property excluded FNMA/FHLMC Conventional FNMA HomeReady TM Mortgage; HomeStyle Renovation; HomeStyle Energy Mortgage FHLMC Home Possible Mortgage; Home Possible Advantage Mortgage DTI Detached/attached, ; 1 2 Unit ; Second Home ; New Construction/Construction-to-Permanent* Per AUS FHFA High Cost Per AUS Per AUS Non-Warrantable Condominium Projects Purchase 1 Unit attached 680/45% ; ARMs with initial fixed term < 3 years; ; 1 Unit detached/attached, Condos 85% FHFA High Cost 680 DTI Per AUS ; Co-ops; ARMs with initial fixed term < 5 years; ; * Ineligible for New Construction/Construction-to-Permanent financing: 2 Units; Cooperatives; ; ARMS with initial fixed period < 3 years; ; Temporary Buy-downs for Second Homes. Unless specifically excluded from this version of Radian s guidelines or subsequent Radian Announcement, future FNMA or FHLMC guideline changes are likewise eligible for One Underwrite (AUS) concurrent with their FNMA or FHLMC announced effective dates. See following page for Agency AUS Approve, Accept/Ineligible Eligibility Matrices One Underwrite (AUS) / Agency AUS Approve, Accept/Eligible

2 One Underwrite (AUS) Agency AUS Approve, Accept/Ineligible Ineligible Findings for: Cash-out LTVs 95.01% 97% LTVs to 97% for ARMs with initial minimum fixed period of 3 years or greater 620 FICO 2 4 unit property; excluded 1 Unit detached/attached, 97% DTI ; Purchase Rate/Term Refinance; New Construction/Construction-to-Permanent* FHFA High Cost Per AUS Temporary Buy downs > 95% Cash-out Refinance 85% 720/45% 1 Unit attached Non-Warrantable Condominium Projects Purchase 680/45% ; 1 Unit detached/attached, Second Home ; New Construction/Construction-to-Permanent* Per AUS 1 Unit detached/attached, Condos 85% 680 DTI Per AUS ARMs with initial fixed term < 5 years; ; * Ineligible for New Construction/Construction-to-Permanent financing: Cooperatives; ; ARMS with initial fixed period < 3 years; ; Temporary Buy-downs for Second Homes Unless specifically excluded from this version of Radian s guidelines or subsequent Radian Announcement, future FNMA or FHLMC guideline changes are likewise eligible for One Underwrite (AUS) concurrent with their FNMA or FHLMC announced effective dates. Eligibility Matrices One Underwrite (AUS) / Agency AUS Approve, Accept/Ineligible

3 Loans that do not meet One Underwrite (AUS) eligibility Manual Base Conforming s General exclusions for properties located in Guam: Cash-out Refinance LTVs > Purchase, Rate/Term Refinance Agency Non-warrantable Condos, PUDs, Co-op DTI ; New Construction/Construction-to-Permanent* 97% 95% 680/45% ARMs with initial fixed term < 3 years; Temporary Buy downs > 95% LTV; ARMs with initial fixed term < 1 year ARMs with initial fixed term < 6 months 660/45% ARMs with initial fixed term < 7 years 2 Units 95% ARMs Cash-out Refinance 85% 720/45% ; ARMs with initial fixed term < 3 years; 740/45% Temporary Buy downs Agency Non-warrantable Condominium Projects Purchase I Unit attached 680/45% ; ARMs with initial fixed term < 1 year; * Ineligible for New Construction/Construction-to-Permanent financing: 2 Units; Cooperatives; ; See following page for Second Home & Eligibility Matrices Manual / Base Conforming s

4 Loans that do not meet One Underwrite (AUS) eligibility Manual Base Conforming s Second Home Agency Non-warrantable Condos, Co-ops, PUDs DTI Second Home ; New Construction/Construction-to-Permanent* ARMs with initial fixed term < 3 years 700/45% 85% ARMs with initial fixed term < 6 months Condos 85% 720/45% Cooperatives; ARMs with initial fixed term < 5 years; * Ineligible for New Construction/Construction-to-Permanent financing: Cooperatives; ; Eligibility Matrices Manual / Second Home; / Base Conforming s

5 Loans that do not meet One Underwrite (AUS) eligibility (FHFA designated high cost areas) Manual FHFA High Cost Second Homes Agency Non-warrantable Condos, Co-ops, PUDs DTI ; New Construction/Construction-to-Permanent* Not to exceed FHFA High Cost Limits 660/45% ARMs with initial fixed term < 1 year *Ineligible for New Construction/Construction-to-Permanent financing: Cooperatives; Temporary Buy downs Areas designated as high cost and their corresponding maximum loan limits can be located on the FHFA website. Eligibility Matrices Manual / FHFA High Cost

6 Loans that do not meet One Underwrite (AUS) eligibility Manual Affordable Housing; Housing Finance Agencies (HFAs); Federal Home Loan Banks (FHLBs) 3 4 Units Properties in Guam Agency Non-warrantable Condos, PUDs, Co-op DTI 97%/105% 680/45% ARMs with initial fixed term < 5 years; Temporary Buy downs > 95%; 95%/105% 660/45% ARMs with initial fixed term < 5 years Co-ops 97%/97% 680/45% 95%/95% 660/45% ARMs; ; ARMs with initial fixed term < 5 years; 95%/95% 680/45% 2 Units 95%/105% 660/45% ARMs with initial fixed term < 7 years; ARMs; Note: requirements for and compliance with income limits and/or Homebuyers Education/Counseling are the responsibility of the Lender or Investor. Areas designated as high cost and their corresponding maximum loan limits can be located on the FHFA website. Eligibility Matrices Manual / Affordable Housing; HFAs; FHLBs

7 Manual Medical Professional Program Medical Doctor (MD, DO, OD, DPM) Dentist (DDS, DMD) Actively practicing medical doctors, dentist or dental surgeons, physician assistants, medical teaching professors, OR newly licensed medical residents who are currently employed or are in residency, OR newly licensed medical, dentists or dental students who are about to begin their new employment/residency within 90 days of closing. AUS Document Waivers For Medical Profession loans with a valid Agency AUS Approve/Accept Credit Recommendation or Response follow the respective Agency documentation requirements including AUS Validations for employment, income, and assets Follow Radian Manual for all other loans. Borrower Contribution from own Funds 3% minimum contribution $424,100 5% minimum contribution > $424,100 Temporary Buy downs ARMs with initial fixed term < 3 years Agency Non-warrantable Condos, Co-ops, PUDs Deferred Student Loans DTI 97% $424, /43% 95% $650, /43% 95% $850, /43% $850, /43% Eligibility Matrices Manual / Medical Professional Program

8 Manual Non-Agency Jumbo ; Second Home Loan amounts to $1,000,000 AUS Document Waivers $850,000 For Non-Agency Jumbo loans with a valid Agency AUS Approve/Accept Credit Recommendation or Response follow the respective Agency documentation requirements including AUS Validations for employment, income, and assets. Follow Radian Manual for all other loans. All s 5% minimum contribution from occupant borrower own funds required. < 15 years ARMS with initial fixed period < 3 years Agency Non-warrantable Condos, Co-ops, PUDs DTI ; New Construction/Construction-to-Permanent* 95% $650, /45% 95% $850, /43% $850, /45% 85% $1,000, /43% Condos Second Home ; New Construction/Construction-to-Permanent* $650, /45% *Ineligible for New Construction/Construction-to-Permanent financing: Cooperatives Eligibility Matrices Manual / ; Second Home; Non-Agency Jumbo

9 Manual Super Jumbo ; Second Home Loan amounts to $1,500,000 All s 5% minimum contribution from occupant borrower own funds required. Cooperatives Temporary Buy downs Non-Occupant Co-borrowers ARMs with initial fixed term < 3 years Agency Non-warrantable Condos, PUDs New Construction/Construction-to-Permanent Financing Attached/Detached Condominiums as s DTI includes PUDs $1,250,000 85% $1,500, /43% Condos Second Home $850, /43% Eligibility Matrices Manual / ; Second Home; Super Jumbo

10 Manual Non-Prime Credit Cooperatives Second Homes Agency Non-warrantable Condos, PUDs New Construction/Construction-to-Permanent Financing LTV DTI Condos 95% ARMs 680/41% ARMs with initial fixed term < 5 years Eligibility Matrices Manual / Non-Prime Credit