Comparison Chart
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Average Credit Score >500 |
Min score of 640 | Min score of 680 | Min score of 640 | No firm requirement | Min score of 680 |
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Average Debt-To-Income N/A |
43% | 43% | 45% | N/A | Unknown, highly credit-driven |
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Monthly Payment Never |
Yes | Yes | Yes | No | Yes |
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Speed 2-3 Weeks |
Two Months | Two Months | Two Months | Two Months | Varies |
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Other Restrictions No prepayment penalties |
Prepayment penalties | Draw requirements, prepayment penalties, fees. | Require you to first pay off your first mortgage. | Must be 62+ years old, must own home outright or have single primary lien. | Low loan amounts |