Wholesale ALERT – Arc Access Eligibility, Appraisal Valuation Revision, Georgia Reminder
Arc Access Non-QM – Eligibility Update
Arc Home is excited to announce expanded eligibility for the Arc Access Non-QM Alt Income – Bank Statement, 1-Year Full Doc, CPA P&L, 1099 product matrix. This program now offers 80% LTV/CLTV with a minimum 660 credit score for Purchase and Rate/Term transactions up to $1MM loan amount, effective for loans registered on or after May 15, 2023.
Please refer to the updated program matrix for complete details – it will be available on the website (HERE) soon.
Appraisal Valuation Requirements – Revised
The Arc Home Appraisal Valuation Requirements policy was updated to align with the Access NQM and Elite QM guideline updates announced on May 1, 2023. The revised Arc Home Appraisal Valuation Requirements policy will be published on the website soon.
Georgia Eligibility – Reminder
As a reminder, loans in Georgia are NOT eligible for the Arc Access, Arc Elite, Conventional Investment Property, and FNMA/FHLMC Second Home & Investment Property programs. The product matrices have been updated to indicate this limitation and will be available on our website (HERE) soon.