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Utah Housing has made some changes to our Loan Programs; these changes will become effective with Mortgage Purchase Agreements (interest rate locks) issued on or after February 11, 2019.  https://utahhousingcorp.org/

 

HomeAgain: May include an owner occupied One-to-Two Unit Dwelling, such as a Duplex, mother in law apartment or Accessory Dwelling Unit (ADU) as defined by FHA. Follow FHA requirements when including any rental income to qualify.  Rental income used to qualify the Borrower must be included in UHC qualifying income limits.
HomeAgain: Non-Occupant Co-Borrowers are allowed.  The Non-Occupant Co-Borrower debt ratio cannot exceed 45%
FirstHome: The Non-Occupant Co-Signer’s debt ratio has  increased from 41% to 45%
Insurance: Addition of UHC Insurance requirements as currently listed in our Selling Supplement.

 

https://utahhousingcorp.org/

Where to Get a Non-QM Loan

Where to Get a Non-QM Loan

Check if you meet the typical requirements: 620+ credit score, stable income, and consistent employment history. Look for lenders or mortgage brokers who work with non-QM wholesale lenders; they can connect you with options.

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