Comparison Chart

Average Credit Score
Min score of 640 Min score of 680 Min score of 640 No firm requirement Min score of 680
Average Debt-To-Income
43% 43% 45% N/A Unknown, highly credit-driven
Monthly Payment
Yes Yes Yes No Yes
2-3 Weeks
Two Months Two Months Two Months Two Months Varies
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