This is an 99.5% loan that is getting a lot of attention.

1. ACCESS”
What “CHF ACCESS” offers
1st Loan 2nd Loan Home
Ownership
15-Year Fully
Amortized 2nd
LITTLE TO
FHA up to Up to 3% of NO MONEY
96.50% LTV Sales Price OUT OF
POCKET
CLTV up to
99.50%

2. CHF ACCESS PROGRAMS
Eligible 1st Mortgage Program
Down Payment & Closing Cost Assistance
Sample Calculations
Income Limit Calculation

3. CHF Access 1st & 2nd

4. CHF ACCESS Program
Topic Program Description
State Restriction Available throughout the WHOLE STATE OF CALIFORNIA ONLY!
Program Types FHA 30 Year Fixed
Max LTV 96.50%
Max CLTV 99.50% – Follow FHA guidelines
Maximum Loan Conforming: Up to $417,000
Amount Jumbo: > $417,000 to $729,750 based on county where property is located
FHA Loan Limits
Loan Purpose Purchase
Occupancy Owner Occupied
Down Payment CHF ACCESS 2nd:
Assistance • CAN be used to fulfill the borrower’s equity contribution required on FHA 1st
Mortgage

5. CHF ACCESS 2nd Program
Topic Program Description
Program Types CHF ACCESS 2nd Fixed
Term 15-yrs Fixed-Rate Fully Amortizing
Maximum Loan Amount Sized up to 3% of the Sales Price
Interest Rate 8.25%
Max CLTV 99.50% or higher – Follow FHA guidelines
Use of Funds Proceeds may be used for:
DOWN PAYMENT
CLOSING COSTS
Price Adjustments
Up Front or Single Premium MI
No cash back to the borrower from the 2nd loan proceeds
• Any overage over POCs must be used to reduce principal balance
• Any overage over $500 results in redraw of loan documents

6. Sample Scenario: (Purchase Price: $325,000)
Sample 1: Borrower has little or NO money Down - Seller contributing for costs…
CHF ACCESS 1st: 96.50% ($325,000 x 96.50%) $313,625.00 +
CHF ACCESS 2nd (Down Payment): 3% ($325,000 x 3%) $9,750.00 +
Total Financing 1st & 2nd: 99.5% of Sales Price $323,375.00 =
Borrower Required Down Payment: .5% ($325,000 x .5%) $1,625.00
Borrower Contribution: .50% ($1,625) for DP (Seller pay for Closing Costs)
Sample 2: Borrower HAS Down Payment but NO money for Closing Costs...
CHF ACCESS 1st: 96.50% ($325,000 x 96.50%) $313,625.00 +
Borrower Funds (Down Payment): 3.5% ($325,000 x 3.5%) $11,375.00 +
CHF ACCESS 2nd (Closing Costs): 3% ($325,000 x 3%) $9,750.00
Total Financing 1st & 2nd: 99.50% of Sales Price $325,000.00 =
Borrower Contribution: 3.5% ($11,375) for DP

7. Sample Scenario: (Purchase Price: $325,000)
Sample 3: Borrower has NO money for D/P OR C/C - Receiving Gift Funds of 5%...
CHF ACCESS 1st: 96.50% ($325,000 x 96.50%) $313,625.00 +
CHF ACCESS 2nd (Down Payment): 3% ($325,000 x 3%) $9,750.00
Total Financing 1st & 2nd: 99.50% of Sales Price $323,375.00 =
Gift Funds Received 5% ($325,000 x 5%) $16,250.00
.5% given for DP 0.5% ($325,000 x .5%) $1,625.00
4.5% towards CC 4.5% ($325,000 x 4.5%) $14,625.00
Borrower Contribution: ZERO ($0)

8. Program Income Limits
Topic Guidelines
Income Limit Based on Qualifying Income Only (not Household Income)
Calculation
Only the income used for Qualifying is considered in order to
meet the Program Income Limits
Income Limit = 120% of HUD AMI
Income Limits To calculate the Program Income Limit by County, refer to:
http://www.huduser.org/datasets/il.html
Tip: Use the Income Limit spreadsheet
CHF ACCESS Income Limit

9. ADDITIONAL GUIDELINES
Eligibility Guidelines
General Underwriting Guidelines
Pricing, Costs and Fees

10. Eligibility Guidelines
Topic Guidelines
Borrower Eligibility Purchase of Owner-Occupied Primary Residences Only
NO 1st Time Homebuyer Requirement
MAY OWN OTHER PROPERTIES – must meet FHA requirements
Property Eligibility Single Family Residences
PUD’s
FHA Approved Condos
Manufactured Homes – Must meet FHA requirements
Income Limits 120% of HUD Area Median Income (AMI)
Sales Price Limits Not Applicable
First Time Homebuyer Not Required
Non Occupying Co- NOT ALLOWED
Borrowers/Co-Signers
Homebuyer Education Required
Minimum Homebuyer NONE required
Contribution

11. Underwriting Guidelines
Topic Guidelines
Underwriting UW Method:
DU / LP allowed – Must be risk scored by FHA Scorecard
Approve/Eligible, Accept or Accept Plus recommendations
Manual UW allowed
**Unless specifically specified, Follow Standard FHA guidelines PLUS
First Mortgage FHA overlays**
Minimum Credit NO MINIMUM FICO SCORES required
Scores Follow 4155 guidelines PLUS FMC overlays
Price Adjustments apply – See First Mortgage rate sheet
Max Debt Ratio 43% - Ficos < 620
45% - Ficos 620- 659
47% - Ficos 660+
Minimum of two(2) strong compensating factors required from HUD 4155
Reserves NONE required
Mortgage Insurance Follow standard FHA MIP
Buy-Downs NOT ALLOWED

12. UW Guidelines cont’d…
Topic Guidelines
Seller Contributions Allowed up to 6%
Gift Funds Allowed from family members
Other Sources of Gift Funds
Assistance 401k loans
Grants
Prepayment Penalty No Prepayment Penalty
Assumability Allowed per FHA guidelines

13. ACCESS Fees & Charges
Topic Guidelines
Interest Rates Interest Rates available on the FMC Rate Sheet on your AE’s website, OR
Contact Integr8tive Lending, INC 949-340-2696
Contact your FMC Account Executive
Origination Fees Up to 1.00% on 1st Mortgage only (BROKER RETAINED)
Discount Fees Buyer or Seller Discounts allowed subject to consumer laws
• Discount Points allowed only for loan level price adjustments. Cannot be used
for additional compensation.
Rebate/Discount See FMC rate sheet
Pricing Contact Integr8tive Lending, INC 949-340-2696
FMC Fees See doc order form or contact your Branch Manager for lender fees
Allowable Fees Must be reasonable and customary and fully disclosed to the borrower in
accordance with all agencies, federal, state and local laws
Follow FMC rules on limitation of fees for FHA loans