U.S. Bank will allow Assisted Appraisal Processing Program when allowed by VA, excluding complex properties, new construction or the absence of a legal written agreement as defined by VA
Lender Compensation is changed to 2.75% on all HIP products. Lender compensation is combination of Origination fee and SRP
The program maximum DTI ratio is 45% for FHA, VA, USDA-RD, Fannie Mae and Freddie Mac loans with a minimum 640 FICO. The program maximum DTI ratio is 50% for FHA, VA,USDA-RD, Fannie Mae and Freddie Mac loans with a minimum 680 FICO. This change does not affect the HIP for First-Time Homebuyer program or the HIP for Teachers program.