HomeEdge 55 · Primary and Second Homes
The No Income, No Employment, No Minimum Credit Score Mortgage
It requires about 45 percent down, and because of the minimum loan amount it generally works on purchases from about $455,000. If that fits, almost nothing else that usually stops a mortgage applies. If it does not, this is not your loan, and the sections below will point you to the one that is.
HomeEdge 55 is a consumer purpose, no ratio mortgage for buyers of a primary residence or second home who have substantial cash for a down payment but do not fit traditional underwriting because of income, employment, credit, or some combination of the three. The program requires no income verification, no employment verification, no debt to income calculation, and no minimum credit score. In exchange it limits financing to 55 percent of the property's value, requires a loan of at least $250,000, and leaves a minimum amount of equity in the home. It is a 30 year fixed loan with no prepayment penalty. It is not available for investment property.
UHome Mortgage, Atlanta. Available on Georgia and Texas homes.
Rate Quote
Three Things Decide Whether This Works
Your down payment, the purchase price, and whether you will live in the home. Check all three before anything else. It takes ten seconds and saves a lot of disappointment.
| Purchase price | Loan amount | Down payment | Works? |
|---|---|---|---|
| $400,000 | $220,000 | $180,000 | No. The loan falls below the $250,000 program minimum. |
| $455,000 | $250,250 | $204,750 | Yes, and this is roughly the lowest price that does. |
| $600,000 | $330,000 | $270,000 | Yes. |
| $1,000,000 | $550,000 | $450,000 | Yes. |
Illustration only, using program maximums rather than an offer. Figures exclude closing costs, prepaid items, and escrow deposits. The loan is measured against the lower of your contract price or the appraised value, so a low appraisal increases the cash you bring. A separate rule requires at least $150,000 of equity to remain in the property; at any purchase price this program can serve, a 45 percent down payment already satisfies it.
The short version
About 45 percent down. A price from about $455,000. A home you will live in, or a second home, not a rental. Below the price floor the loan lands under the program minimum and there is nothing we can do about it. Above it, the down payment percentage stays the same as the price rises. Investment property has its own program, InvestorEdge 50.
If those three things fit, the usual obstacles stop mattering: no income verification, no employment verification, no debt to income ratio, no minimum credit score, and no reserves.
Get a real answer
Tell us the price range, what you have for a down payment, and what does not fit about your file. We will tell you whether this loan, or a cheaper one, is the answer.
Who It May Fit
Who Uses a No Income, No Employment, No Credit Score Mortgage
One thing connects all of these: a normal lender cannot get to yes on income, employment, or credit, and you have real money for a down payment.
"My income won't document and my credit is rough."
Both problems at once. This is the file this program exists for: neither your income nor your score is used to qualify you.
"I'm self employed and my returns show nothing."
Heavy write offs, a bad year, or income that simply does not read the way underwriters want. No debt to income ratio is calculated here.
"I just came out of bankruptcy."
This program can consider a borrower one day after a discharged bankruptcy. Not two years. One day, provided everything else lines up.
"I don't have a credit score at all."
Thin file, no file, or an ITIN borrower who never carried credit. No score is required and there is no minimum tradeline count.
"I'm retired and have no paycheck."
No employment verification and no income ratio, so a buyer living on savings or a sale rather than a job is not automatically out.
"I sold a house and the same year wrecked my credit."
Divorce, illness, a job loss. The sale left you with the down payment; the event left you with lates and collections. Collections do not require payoff here.
"My family is helping with the down payment."
Gift funds are permitted with a proper paper trail, and a gift of equity from a family seller is permitted too. Large down payments often come this way.
"My credit is fine. It's only my income."
Then this is probably the wrong loan. Our No Income No Employment loan starts at a 620 score and uses it to allow far higher leverage, which means far less cash down.
Recognizing yourself here does not mean you qualify. Every scenario is subject to the lender's guidelines, property eligibility, appraisal, and full underwriting review, and the down payment and price thresholds above still apply.
An Honest Look
When HomeEdge 55 Is the Wrong Loan
Most buyers who land here should use something else. Here is where we send people somewhere better.
Your credit is strong; only your income is the problem
Use the No Income No Employment loan instead. It also skips income, employment, and DTI, but from a 620 score it allows up to 80 percent financing. That can mean putting down a fraction of what this program requires.
You qualify for FHA
FHA exists for credit challenged buyers and asks for a small fraction of this down payment. If an FHA loan is open to you, take it.
Your credit and income both document cleanly
At 45 percent down, a conventional loan has no mortgage insurance and better pricing. Do not pay for flexibility you do not need.
You don't have about 45 percent
There is no version of this with less down. With 10 or 20 percent, the conversation is FHA, conventional, or a first time buyer program.
The house costs under about $455,000
The loan would fall below the $250,000 program minimum. This is the single most common reason we cannot help, and it rules out a lot of Metro Atlanta.
You're buying a rental
Investment property is not eligible. InvestorEdge 50 is the equivalent structure for property you will not live in.
You're in forbearance or had a recent foreclosure
An active forbearance is not permitted. A foreclosure needs at least 12 months of seasoning, and foreclosure bailouts are not permitted.
The property is in Alabama
This program is not available on Alabama property, even though UHome is licensed there. Georgia and Texas are where we can place it.
UHome Mortgage is an independent brokerage, not a lender. Pointing you toward a cheaper loan is the job, not a lost sale.
Not sure whether your credit is "strong enough" for the other program? That is exactly the call to make.
See What I Qualify ForThe Full Picture
What You Gain, and What It Costs You
You are trading a large down payment for a short list of questions. Whether that is a good trade depends entirely on whether anyone else will lend to you at all.
Potential benefits
- No income verification and no employment verification. Your job, your returns, and your pay stubs are not what qualifies you.
- No debt to income ratio. This is a no ratio program. Monthly debts are not measured against documented income.
- No minimum credit score and no minimum tradelines. Credit is reviewed for specific events, not graded on a number.
- Bankruptcy considered one day after discharge. Most programs impose multi year waiting periods.
- Collections and charge offs do not require payoff. Judgments and tax liens do.
- No reserves, no mortgage insurance at this down payment, and no prepayment penalty. If your credit rebuilds, refinancing later costs you nothing here.
- Gift funds and a gift of equity are both permitted. First time buyers and ITIN borrowers are eligible.
Important considerations
- The down payment is large and not negotiable. About 45 percent of the price, plus closing costs and escrows.
- There is a price floor around $455,000. Below it the loan falls under the $250,000 program minimum. No workaround.
- A stronger credit score buys a far cheaper path. If your score works, the No Income No Employment program can finance up to 80 percent. This one stops at 55.
- Pricing is higher than agency financing. This is a portfolio program. It costs more than the FHA or conventional loan you cannot get.
- Homeowner counseling is required on every transaction, and at least one borrower must complete it.
- Some credit items still stop the file. Judgments and tax liens must clear at or before closing, an active forbearance is not permitted, and foreclosure carries a 12 month seasoning requirement.
- Escrows are required, every file gets a second appraisal review, and a declining market identified by the appraiser reduces the maximum loan.
Which one fits me?
UHome has two no ratio consumer programs, and they are a ladder, not a menu. When income does not work, we look at credit. When credit does not work either, we look at equity.
- Your score is 620 or better and your mortgage history is clean, but income or employment is hard to document. Start with the No Income No Employment loan. It uses your score to allow up to 80 percent financing on a purchase, which can leave far more of your cash in your pocket.
- Your score is under 620, you have no score, you have had mortgage lates, or a bankruptcy is recent, and you have substantial cash for a down payment. HomeEdge 55 may be the fit. It removes the credit requirement entirely and caps financing at 55 percent.
- You qualify for FHA or conventional. We should almost certainly use that instead. Both cost less and ask for far less down.
Program details are set by the lender and change without notice. Nothing here is an offer, and no feature described is available on every scenario.
Compare Your Options
HomeEdge 55 vs. the No Income No Employment Loan, FHA, and Conventional
The two left columns are siblings: both skip income, employment, and DTI. The difference is whether your credit score is doing any work.
| Criteria | HomeEdge 55 | No Income No Employment | FHA Loan | Conventional |
|---|---|---|---|---|
| Income verification | None. | None. | Full documentation. | Full documentation. |
| Employment verification | None. | None. | Required. | Required. |
| Debt to income ratio | Not calculated. | Not calculated. | Calculated and capped. | Calculated and capped. |
| Credit score | No minimum. Score is not used. | 620 minimum. Score sets how much you can borrow. | HUD sets thresholds that determine your down payment. | Score drives approval and price. |
| Purchase financing | Up to 55% of value. | Up to 80% of value, depending on credit score. | Up to 96.5% for eligible buyers. | Up to 97% for eligible buyers. |
| Mortgage payment history | Current mortgage must be under 90 days late. | No 30 day lates in the last 12 months, on any mortgage. | Reviewed. | Reviewed. |
| Tradelines | No minimum. | Two for 12 months, or one for 24. | Requirements apply. | Requirements apply. |
| After a bankruptcy | Considered one day after discharge. | 48 months from discharge. | A waiting period applies. | A multi year waiting period applies. |
| Reserves | None. | 6 to 9 months, depending on leverage. | Generally none on a 1 unit primary. | Depends on the file. |
| Mortgage insurance | None at this down payment. | Lender specific. | Annual MIP regardless of down payment; does not auto cancel at 78% LTV. | None above 20% down. |
| ITIN borrowers | Eligible. | Not eligible. | Not eligible. | Not eligible. |
| Best fit | Strong equity; income and credit both a problem. | Score of 620 or better, clean mortgage history; income or employment hard to document. | Credit challenged buyer with modest savings. | Clean file that fits the agency box. |
No Income No Employment figures are that program's current maximums and vary by credit score tier; the full tier schedule lives on that program's page. FHA and conventional columns describe published agency rules and general market practice, and thresholds are set by HUD, Fannie Mae, and Freddie Mac and change over time. Nothing in this table is an offer or a guarantee of eligibility.
Your Path
How the Process Works
Six stages. Two of them, the counseling requirement and the appraisal, are where timelines usually slip, so start both early.
Tell us what does not fit
Income, employment, credit, or all three. Say it plainly. It changes which program we look at first, not how we talk to you.
We check the cheaper doors first
FHA, conventional, and the No Income No Employment loan get looked at before this one. If any of them open, that is where you should go.
Apply and submit
No tax returns, no pay stubs, no employer calls. Identification, the purchase contract, and about a month of asset statements covering your down payment.
Complete homeowner counseling
Required on every transaction, and at least one borrower has to finish it. Start it the week you apply.
Underwriting, appraisal, and title
No score threshold and no ratio, but conditions still happen. Every file gets a full appraisal plus a second review, and judgments or liens surface here.
Close and move in
Georgia closings are conducted by an attorney. Bring your funds and your identification, and the house is yours.
Timelines depend on the lender, the property, appraisal availability, counseling scheduling, and how quickly documents come back.
Be Prepared
Documents You May Need
No income or employment verification changes what gets asked for, not whether anything gets asked for. Not every buyer needs every item.
The purchase contract
Fully executed with any addenda. Seller contributions are capped, so the terms matter to underwriting.
Asset statements
About a month of statements covering your down payment and closing costs. This is the document that carries the file.
Gift documentation
A gift letter and paper trail if family is helping. Both gift funds and a gift of equity from a family seller are permitted.
Government identification
For every borrower, including ITIN documentation or visa paperwork where it applies.
Credit authorization
Credit is pulled even though there is no score minimum. It is read for specific events rather than graded on a number.
Payoff letters for judgments or liens
Judgments and tax liens generally have to clear at or before closing. Get those figures early, because they come out of your cash.
Bankruptcy discharge paperwork
If a bankruptcy is part of your history, the discharge documents. Have them scanned before you apply.
Housing history
Where you have been living and how those payments were made. Requirements differ between a primary home and a second home.
Homeowner counseling certificate
Proof that at least one borrower completed the required counseling. This is a real condition, not a formality.
Homeowners insurance
A policy in place effective at closing. Taxes and insurance are escrowed on this program.
What you will not be asked for: tax returns, W-2s, pay stubs, or an employer verification. You do not need any of this to start a conversation.
Been told no somewhere else? Bring us the reason. Sometimes it is the wrong reason.
Talk With A Loan ExpertReal World Context
Five Buyers This Was Built For
Illustrative examples only. None is an approval, a promise, or a prediction of what any buyer would experience.
Recently discharged bankruptcy, family gift for the down payment
The situation
A DeKalb County couple received a Chapter 7 discharge four months ago. Her parents are gifting most of a down payment so the family can buy near the grandchildren.
Why a normal purchase is hard
Conventional and FHA both impose waiting periods after a discharge, and the No Income No Employment program requires 48 months. Four months is not close to any of them.
Why this may work
This program can consider a borrower one day after discharge. Gift funds are permitted with a letter and paper trail.
What still needs review
The discharge paperwork, the gift documentation, whether the target price clears the floor, and whether any debt survived the discharge as a judgment or lien.
When another program fits better
If they can wait out the FHA seasoning period, FHA would need a far smaller down payment and leave the gift largely intact.
Home sale proceeds, credit damaged by the same year
The situation
A Fulton County buyer sold the marital home in a divorce and has her share, about $260,000. During the split, the mortgage went 90 days late twice and two joint cards went to collections.
Why a normal purchase is hard
Her score is in the low 500s. Lenders see recent housing lates and collections and stop reading, even with the cash in her account.
Why this may work
No minimum score, no ratio, and collections do not require payoff. At a $560,000 price her proceeds cover the down payment with room for closing costs.
What still needs review
Whether either collection became a judgment, which would have to be cleared at closing, and how her recent housing history is documented.
When another program fits better
If enough time has passed for an FHA loan, FHA would let her keep most of that $260,000.
Business owner with hard to document income and weak credit
The situation
A Cobb County contractor closed his company after a bad year, and personal guarantees followed him onto his report. He later sold equipment and a lot and has about $300,000 liquid, with no clean income to document.
Why a normal purchase is hard
Two problems at once. Conventional needs both income and credit. The No Income No Employment loan solves the income side but still needs his score to work, and right now it does not.
Why this may work
No debt to income ratio, no employment verification, and no score minimum. The down payment and the asset verification carry the file.
What still needs review
Whether any business debt became a judgment or tax lien, and where the funds are held. Business accounts require proof he owns the business outright.
When another program fits better
Once his score recovers, the No Income No Employment program would let him keep far more of that cash. Until then, a bank statement loan is worth checking if deposits are strong.
Retiree with strong assets and no qualifying income
The situation
A Gwinnett County widower sold the family home he had owned since 1998 and cleared over $400,000. He is 71, lives on Social Security and drawdowns, and wants a smaller place near his daughter.
Why a normal purchase is hard
His documentable income is small next to his net worth, and several lenders quoted a payment he cannot show income for.
Why this may work
No income verification, no employment verification, and no ratio. His proceeds cover the down payment comfortably and financing part of the price keeps cash available.
What still needs review
Whether the smaller home he wants clears the $455,000 floor, and whether his credit is strong enough that the No Income No Employment program would let him put down far less.
When another program fits better
If his credit is intact, the No Income No Employment loan or an asset based conventional approach will almost certainly cost less and preserve more cash.
ITIN buyer with documented savings and no credit score
The situation
A Chamblee family has saved for nine years and holds more than half a purchase price in the bank. They file with an ITIN, have never carried a credit card, and have no score at all.
Why a normal purchase is hard
No score and no tradelines means most automated underwriting cannot produce a decision, regardless of how much they have saved.
Why this may work
No credit score is required and there is no minimum tradeline count. ITIN borrowers are eligible on this program.
What still needs review
Documentation of the savings, how long the funds have been held, identification for each borrower, and whether their target price clears the floor.
When another program fits better
Some ITIN programs allow a much smaller down payment. If preserving savings matters more than closing quickly, that comparison is worth making first.
Scenarios are illustrative and do not guarantee any buyer the same result, terms, or approval. Every file is subject to the lender's guidelines and full underwriting. A high equity homeowner who cannot qualify for a traditional refinance is a separate conversation and a separate page.
Local Guidance
What This Means for Georgia and Metro Atlanta Buyers
The price floor collides with the Atlanta market in a specific way, and you should know where before you start shopping.
The median Atlanta home does not qualify
The median sales price across the 11 county Atlanta market was $442,500 in June 2026 according to the Atlanta REALTORS Association. This program's effective floor is around $455,000. The typical Metro Atlanta home sits just below the price where this loan becomes possible.
That points you toward the upper half of the market. Parts of Fulton, Cobb, and Gwinnett clear it routinely; much of Clayton, Douglas, Paulding, and Henry does not. If the house you want is priced at $400,000, this is not your loan and we will say so on the first call rather than after an appraisal.
Georgia specifics worth knowing before you close
Georgia closings are conducted by a licensed attorney, so build that into your timeline. Georgia assesses property at 40 percent of fair market value, and as an owner occupant you can claim the statewide homestead exemption, which changes your escrow figure. Ask us to run the real number.
If you are a first time buyer, ask about Georgia Dream and other down payment assistance before assuming this is your only path. Those programs pair with agency financing and would leave far more of your savings intact.
Where UHome can put you into this loan
UHome Mortgage is licensed in Georgia, Alabama, and Texas. This program is not available on Alabama property, so in practice we can place it on Georgia and Texas homes. That is a limit of the lender's footprint, not our licensing, and it is far better to know now than three weeks in.
Good Questions
Questions Buyers Ask About No Income, No Credit Score Mortgages
Can I get a mortgage with no income verification and bad credit?
Yes, in some cases. HomeEdge 55 requires no income verification, no employment verification, no debt to income calculation, and no minimum credit score, so weak or absent credit does not disqualify you by itself. What it requires instead is about 45 percent down and a purchase price from about $455,000.
If your score is 620 or better, the No Income No Employment loan would let you put down far less. With under 45 percent, start with FHA.
What is the difference between HomeEdge 55 and a No Income No Employment mortgage?
Both skip income verification, employment verification, and the debt to income ratio. The difference is credit: the No Income No Employment loan starts at a 620 score and uses it to set how much you can borrow, up to 80 percent on a purchase, while HomeEdge 55 uses no credit score at all and caps financing at 55 percent.
The other program also requires a clean 12 month mortgage history, six to nine months of reserves, and four years of seasoning after a bankruptcy. HomeEdge 55 requires none of those, and it accepts ITIN borrowers, which the other program does not.
Think of it as a ladder. When income does not work, we look at credit. When credit does not work either, we look at equity.
If I have good credit, should I use HomeEdge 55?
Probably not. A borrower with a score of 620 or better and a clean mortgage history usually has a better option that requires substantially less cash: the No Income No Employment loan may finance up to 80 percent of a purchase, and if income documents cleanly, conventional financing costs less still.
HomeEdge 55 is for when credit is part of the problem. Using it with strong credit means putting down far more than you need to.
How much down do I need for a no credit score mortgage?
About 45 percent of the purchase price on this program, plus closing costs and escrow deposits. On a $600,000 home that is roughly $270,000 down with a $330,000 loan.
There is no reduced down payment version, and the loan is measured against the lower of contract price or appraisal.
Is there a minimum purchase price?
Effectively yes, around $455,000. The program has a $250,000 minimum loan amount, and at 45 percent down a cheaper house produces a loan below it.
This matters in Metro Atlanta, where the June 2026 median sales price was $442,500. A median priced Atlanta home sits just under the threshold.
Can I get a mortgage one day after bankruptcy?
On this program, a borrower can be considered one day after a bankruptcy discharge. There is no multi year waiting period, which is the single most unusual thing about it.
Foreclosure is treated differently: a minimum of 12 months seasoning applies and foreclosure bailouts are not permitted. Tell us which event actually happened.
Can I get a mortgage with no credit score at all?
Yes. This program requires no credit score and no minimum number of tradelines, so a thin file, no file, or an ITIN borrower who has never carried credit is not disqualified by that alone.
Credit is still pulled and read for events: judgments and tax liens must be paid at or before closing and an active forbearance is not permitted, while collections and charge offs do not have to be paid off.
Is there a mortgage with no employment verification?
Yes. Neither HomeEdge 55 nor the No Income No Employment loan verifies employment, and neither builds a debt to income ratio. Retirees, business owners between ventures, and buyers living on savings or a sale are the people this structure was designed around.
That is not no documentation. Expect identification, the contract, about a month of asset statements, insurance, and a counseling certificate.
Do I have to pay mortgage insurance with 45% down?
No. At this down payment there is no mortgage insurance on this program, and there would be none on a conventional loan either. FHA is the exception: it charges an annual premium regardless of down payment, and it does not automatically cancel at 78 percent loan to value.
Can gift funds or a gift of equity be used for the down payment?
Yes to both. Gift funds are permitted with a gift letter and paper trail, and a gift of equity from a family seller is permitted on this program. Seller contributions toward closing costs are allowed up to a cap.
Family help is common on these files. Document it early.
Can an ITIN borrower qualify without a credit score?
Yes. ITIN borrowers are eligible on this program, and because no credit score or tradeline minimum applies, the absence of a U.S. credit history is not itself a barrier. U.S. citizens, permanent residents, and non permanent residents with an acceptable visa are eligible too.
Foreign national borrowers are eligible on second homes only, not on a primary residence.
Can I use this for a second home or a rental?
A second home, yes. A rental, no. This program covers a primary residence and a second home only. For investment property, see InvestorEdge 50.
Is there a prepayment penalty?
No. If your credit rebuilds and you want to refinance into cheaper financing in a couple of years, nothing here charges you for that. For many buyers that is the plan: get into the house now, refinance once the credit event has aged.
Where is this available?
UHome Mortgage is licensed in Georgia, Alabama, and Texas, and this program is not available on Alabama property. In practice we can place it on Georgia and Texas homes, from Metro Atlanta to Augusta, Savannah, Columbus, Macon, and Athens.
Accuracy Matters
Reviewed for accuracy by a licensed mortgage professional
Coby Pegues
President | Loan Originator | NMLS #2556341
This page describes a portfolio program whose guidelines are set by the lender and can change without notice, and compares it to a related UHome program and to agency financing. No feature described here is available to every borrower. Anything material to your decision should be confirmed for your actual purchase before you rely on it.
Last reviewed: [CMS: review date]
Sources and References
This is a portfolio program rather than an agency product, so its terms come from the lender's own published guidelines. The sources below support the agency comparisons and the Georgia data cited above.
- Lender program guidelines for HomeEdge 55 and for the No Income No Employment loan, current revisions. Source of the leverage, credit, loan amount, property eligibility, counseling, and citizenship terms described here. Available from your loan originator on request.
- HUD Single Family Housing Policy Handbook 4000.1. the governing source for FHA credit score thresholds, waiting periods, and mortgage insurance premium rules.
- Fannie Mae Eligibility Matrix. source of the conventional down payment and credit context.
- CFPB, Regulation Z § 1026.24, Advertising. the advertising rules that govern how down payment and financing terms may be stated.
- Atlanta REALTORS Association, Monthly Market Brief. source of the June 2026 metro Atlanta median sales price.
- Georgia Department of Revenue, Property Tax Valuation. the 40 percent assessment ratio under O.C.G.A. § 48-5-7.
- NMLS Consumer Access. verify the license status of UHome Mortgage LLC and any individual loan originator.
Market data reflects the reporting period stated by the source. Agency requirements are updated periodically. Portfolio program guidelines are set by the individual lender and are subject to change without notice.
Keep Learning
Explore Related Resources
Your Next Step
Tell Us What Doesn't Fit. We'll Tell You What Does.
Bring us the price range, the down payment, and the part of your file that keeps getting you declined. We check the cheaper loans first, and if one of them opens, that is where we send you.
Prefer to talk it through? Call 404.919.5533.
Reviewing your situation does not commit you to a loan, and we will tell you when the numbers do not work.
Disclosures
General mortgage disclosure
UHome Mortgage LLC is an independent mortgage brokerage and is not a lender. Information on this page is provided for educational purposes only and is not a commitment to lend, an offer of specific terms, or a guarantee of approval, qualification, rate, cost, savings, closing, funding, property eligibility, or program eligibility. All financing is subject to the selected lender's guidelines, property eligibility, appraisal, and full underwriting review. Program availability, structure, pricing, and requirements vary by lender and are subject to change without notice.
Program disclosure: HomeEdge 55
HomeEdge 55 is a consumer purpose mortgage loan secured by a primary residence or second home. It is subject to the Truth in Lending Act and Regulation Z, the Equal Credit Opportunity Act, the Real Estate Settlement Procedures Act, and applicable state law. Investment property is not eligible. The program is a no ratio loan: no income verification, no employment verification, and no debt to income ratio are used to qualify the borrower. That is not the same as no documentation. Identification, purchase contract, asset verification covering funds to close, homeowners insurance, a homeowner counseling certificate, and a credit report are required, and additional documentation may be requested. The absence of a minimum credit score does not mean credit is not reviewed: judgments and tax liens must be satisfied at or before closing, an active forbearance is not permitted, a foreclosure requires a minimum of 12 months seasoning, and foreclosure bailouts are not permitted.
All program figures stated on this page are current lender program maximums or minimums, not offers. Maximum loan to value and combined loan to value is 55 percent, measured against the lower of the sales price or the appraised value, and a minimum of $150,000 in equity must remain in the property after closing. Loan amounts range from $250,000 to $1,500,000. Where an appraiser identifies a declining market, the maximum loan to value is reduced by 10 percentage points. Taxes and insurance are escrowed. Homeowner counseling is required on every transaction and at least one borrower must complete it. Seller contributions are limited, gift funds and a gift of equity are permitted with documentation, and citizenship, property type, condition, and acreage limits apply. No prepayment penalty applies. Program guidelines are set by the lender and are subject to change without notice.
Related program: No Income No Employment loan
References on this page to UHome's No Income No Employment loan describe a separate consumer purpose no ratio program with its own guidelines, including a minimum credit score of 620, tradeline and housing history requirements, reserve requirements of six to nine months depending on leverage, a 48 month waiting period after a bankruptcy discharge, and a seven year waiting period after a foreclosure. Maximum financing on that program varies by credit score tier, reaching 80 percent on a purchase and 75 percent on a cash out refinance for the strongest tier, and the complete tier schedule is published on that program's page. Comparison statements on this page are accurate as of the review date and are subject to change without notice.
Representative example
[REP_EXAMPLE: On a purchase price of $[REP_PRICE] with a down payment of $[REP_DOWN] ([REP_DOWN_PCT] percent), a loan amount of $[REP_LOAN] at a fixed interest rate of [REP_RATE] percent for a term of 360 months would result in a monthly principal and interest payment of $[REP_PAYMENT] and an Annual Percentage Rate of [REP_APR] percent. Payment does not include taxes, insurance, or escrow deposits; the actual payment will be higher. Rate and APR are as of [REP_DATE] and are subject to change. This is an example only and is not an offer of credit.]
Licensing and geographic availability
UHome Mortgage LLC, Company NMLS #2559453. Coby Pegues, Loan Originator, NMLS #2556341. UHome Mortgage LLC is licensed in Georgia, Alabama, and Texas and can originate loans only in those states. The HomeEdge 55 program is not available on property located in Alabama and is subject to additional state restrictions where applicable, including that Texas Section 50(a)(6) home equity loans are not permitted. A lender's ability to lend in a state does not mean UHome can originate there, and UHome's licensure in a state does not mean a given program is available there. Verify licensing at nmlsconsumeraccess.org.
Equal Housing Opportunity
UHome Mortgage LLC is an Equal Housing Opportunity brokerage. We do business in accordance with the Federal Fair Housing Act and the Equal Credit Opportunity Act, and we do not discriminate on the basis of race, color, religion, sex, handicap, familial status, national origin, or any other characteristic protected by applicable law. [CMS: Equal Housing Opportunity logo placement]
Additional disclosures
The purchase price illustration on this page applies program maximums to hypothetical purchase prices. It is arithmetic, not a quote, and it excludes closing costs, prepaid items, escrow deposits, and any liens that must be satisfied at closing. Comparison columns describing FHA and conventional financing reflect published agency rules and general market practice, and specific thresholds are set by HUD, Fannie Mae, and Freddie Mac and change over time. Market data is attributed to its published source and reflects the reporting period stated by that source. Nothing on this page constitutes legal, tax, or financial advice.
