NewRez LLC

Credit Score & AUS Guidelines

 FHA & VA: Minimum 580 credit score (AUS approval required). FHA allows DU only, while VA allows both DU and LP. If Refer/Eligible, a 600 score is required. Always send me credit and AUS for review.
 USDA: Minimum 600 credit score. I can run GUS for you if needed.
 Conventional: Minimum 580 score.

1. If one borrower, run LP and get an "Accept."
2. If two borrowers, DU requires a blended 620 score. Rates and MI are based on the lower score.

Key Loan Features & Benefits

 10-Day Free Extensions – Available for Conventional, FHA, VA, and USDA loans. You can apply it yourself or I can do it for you! (Not available on Everglades Jumbo or Non-QM.)
 No Cure Fees – While accurate disclosures are expected, minor mistakes won’t come out of your paycheck.
 RezExpress – Ask me for the criteria!

Special Loan Programs

 Conventional AMI – If one borrower is a first-time homebuyer and AMI is between 80%–100%, FICO and Property LLPAs are waived. In High-Cost Areas, AMI can go up to 120%. For manufactured homes, the first-time homebuyer requirement is waived. You can use Fannie Mae or Freddie Mac’s income lookup tool for AMI in your area.
 Switching Comp Plans – You can switch from Lender Paid Comp to Borrower Paid Comp without restarting the process.
 Everglades Jumbo – AUS product with some overlays. We require an Approve/Ineligible.
 Manufactured Homes – Available for Conventional, FHA, VA, and USDA loans. Reach out for details. (we even do Single Wides)
 No Score Loans – Offered for Conventional, FHA, VA, and USDA loans. Let’s discuss details.
 VA Jumbo Loans – We offer manual and AUS approvals. I can send you a matrix for loan amounts, DTI, and more.
 SmartSelf – Bank Statement Program – Available in 1-year and 2-year options for self-employed borrowers. We lend up to 90% LTV with no MI and also accept 1099 borrowers. Upload bank statements for income calculations at NewRezWholesale.com under "Resources."
 Non-Warrantable Condos – We offer financing for Full Doc, Bank Statement, and DSCR programs. Email projectreview@newrez.com for a review—no loan number needed. We can review insurance, litigation documents, and more to determine eligibility. PRIOR TO SUBMISSION
 Asset Qualifier Program – Available under SmartEdge Non-QM. Averages the bank account balance by 60 months. 

Additional Support

 Income Calculations – Send over 2 years of tax returns (for self-employed) or a WVOE & current pay stub (for W-2 borrowers). You can also provide year-end pay stubs for past years.
 Brigade Team Support – Need help with an LE walkthrough? Schedule a screen-share session with our experts or call 888-426-7026 (#1 for assistance).

Down Payment Assistance (DPA) Resources

 While NewRez does not offer a DPA, we have a state-by-state list of DPAs that our Wholesale Channel accepts. You would need to coordinate these independently.