Your Government Lending Specialist    

      USDA, FHA, VA & Conventional Lender

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USDA

  • No Score & 1 Score
  • 600 minimum score for manual underwriting  (specific requirements for 600 - 619 required, please view 600 - 619 matrix under Forms & Tools)
  • 640 minimum score for GUS Approve/Eligible
  • Manual Underwriting allowed
  • Escrow holdback available for repairs (follow USDA guidelines)
  • Manufactured homes accepted per USDA guidelines
  • Refinance USDA to USDA
  • Access to GUS available for Brokers & Correspondents

FHA

  •  NO SCORE & 1 score
  • 600 minimum score (specific requirements for 600 - 619 required, please view 600 - 619 matrix under Forms & Tools)
  • Manual underwriting available - DTI options up to 47% (see matrix for details)
  • Streamlines accepted
  • Max DTI 55% with Approve/Eligible
  • Escrow Holdback available up to $5000 - see matrix
  • Manufactured & Modular Homes
  • Grants & DPA allowed
  • Follow FHA Guidelines
  • DU accepted
  • High Balance loans available

VA

  • No Score & 1 Score
  • 600 minimum score (specific requirements for 600 - 619 required, please view 600 - 619 matrix under Forms & Tools)
  • Manual underwriting available
  • IRRRL's available - No Appraisal or AVM required
  • Max DTI 50% with Approve/Eligible
  • Escrow holdback available up to $5000 - see matrix
  • Manufactured & Modular homes
  • VA Approval with Flanagan State Bank required
  • DU accepted
  • Follow VA guidelines
  • High balance loans available

Conventional

  • 97% LTV - FNMA & FHLMC
  • 620 minimum score
  • subordinate financing allowed
  • follow agency guidelines
  • 1-4 Unit (O/O & N/O/O)
  • Cash Out
  • Escrow waiver allowed 80% LTV or less
  • Max 97% LTV
  • LPMI
  • Single Financed MI & Split Premium MI
  • Manufactured & Modular Homes 
  • Mortgage Insurance companies: Arch, MGIC, Genworth
  • High Balance Conventional now available.   Not shown on rate sheets or online pricing. Please contact lockdesk@flanaganstatebank.com for pricing.

Flanagan State Bank is a VA, FHA and USDA approved lending institution and is not acting on behalf of the VA, HUD/FHA, USDA or the Federal Government.