Momentum Mortgage

Loan Purpose	Purchase
Occupancy	Primary
Loan Program	SOFR 5/6 ARM, SOFR 7/6 ARM, SOFR 10/6 ARM
Maximum LTV/CLTV	100%
Rate Adjustment	0.25%
PMI Coverage Required	35%
Loan Amount	FHFA Base conforming loan limit
Minimum Credit Score Max DTI	680 Credit score, up to 41% DTI
Minimum Credit Score Max DTI	700 Credit score up to 45% DTI
Property Type	Single family detached/attached, condos, and non-warrantable condos: case-by-case basis with Enact underwriting
Reserves	2 Months PITIA required
Borrower Contributions	1% borrower contribution required Minimum contribution may be met through the borrower's payment of closing costs and/or prepaids Gift funds are an eligible source of borrower's funds
Seller Concessions	Maximum 3%
AUS Desktop UW	AUS findings may be used to document: Employment Income Assets Tradelines
Enact Guidelines	All other parameters of Enact's standard underwriting guidelines must be met, including but not limited to: Requirements regarding LTV Credit score DTI Borrower's own funds Reserves
PMI Approval	Non-delegated approvals only
Portfolio	Portfolio loan only
Ineligible	Manufactured homes Non-occupant co-borrowers Nontraditional credit Amortizations >30 years Loans with temporary interest rate buydowns May not be combined with Enact's professional program