* Exceptions are only allowed on Agency overlays, Access suite, and soft guidelines on Edge suite. *
** The exception form is located below the exception restrictions, please review the restrictions and continue to the bottom of the page. **
At this time, Arc Home will not consider exceptions submitted for transactions when any of the items noted below are present.
- Borrowers (U.S. Citizen, permanent or non-permanent resident alien) who do not have a valid and verifiable legal address within the U.S.
- DACA borrowers
- Personal transactions for owner/principal of mortgage brokerage or correspondent lender originated within own company
- Closing in the Name of an Entity where the Entity has layered ownership
- CPA PTIN Verification
- More than 7 NSFs in the most recent year
Debt Service Coverage Ratio (DSCR)
- True First Time Homebuyers who have never held ownership in a property ever.
- The use of gift of equity
- Intervivos Revocable Trusts
- DSCR < .75
All Program Requirements
- Qualify and escrow with tax exemptions, such as a homestead exemption
- Escrow Holdbacks
- Loan amounts less than minimum loan amount
- Loan amounts greater than $4,000,000.00
- LTVs greater than program maximum
- Waiving more than four (4) months reserves for programs that require at least 12 months of reserves
- Waiving reserves for programs that require six (6) months or less
- Residual income below the minimum
- DTI greater than 55%
- Mixed use properties that do not meet Fannie Mae requirements
- Unique properties
- More than 25 acres
- Self employment less than 1 year
- CPA P&L Product without bank statements to support the P&L
Note: All loans must adhere to Higher-Priced Mortgage Loans (HPML)/Regulation Z and Ability to Repay/Qualified Mortgage (ATR/QM) regulations.
2024 Arc Home LLC | All Rights Reserved | Nothing in this document shall constitute a commitment to lend or guaranty to lend at a specified rate or under any specific terms and conditions. Eligibility to participate in any and all commercial lending programs are subject to credit review, underwriting and subject property approval. Programs, rates, fees, terms and conditions are subject to change at any time and without notice.
Arc Home LLC conducts business as Arc Home Loans LLC in AR, FL, IL, MO, TX and WI and, as Arc Home LLC, a limited liability company of Maryland, in OR.
Fields marked with asterisk (*) are mandatory
Please upload appraisal with this request.