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IdaMortgage Loan Program
Quick Reference Underwriting Guide for Refinancing
with an IdaMortgage Loan Product
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Homeownership Lending Contact Information
(208) 331-4883 Toll free 1-800-219-2285
resloan@ihfa.org
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Highlights of refinancing include:
Flexible mortgage products for purchase and refinance combined with underwriting guidelines that emphasize the borrower's ability to repay the debt.
- Expanded Approval® (EA1) recommendations in Desktop Underwriter® (DU®) provides a mortgage financing option to borrowers with blemished credit, and the vast majority of
owner-occupied homeowners with subprime mortgages who have a 12-month clean payment history can qualify for a fixed-rate prime mortgage through EA1 recommendations in DU®.
- Fannie Mae’s Flexible 97® and Flexible 100™ mortgage products continue to provide a low-down payment option for borrowers with good credit.
Adjustments through DU® provides even more flexibility to serve borrowers, while managing risk prudently.
- Recent enhancements have made EA1 more broadly available and even more flexible with up to 40-year terms.
- Updated credit standards in DU® support prudent risk management and sustainable homeownership.
- A more flexible collections payoff policy has been put in place for loans underwritten through DU®.
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