Borrowers with clean credit, FICO scores no lower than 620, (580 if they have 20% down, good reasons for late payments on credit history, extra assets, 4 year window.) W-2â€(tm)s, liquid money, biweekly pay stubs, low debt to income ratios, no recent bankruptcies.

Refers to mortgage loans with interest rates that have not been adjusted for marginal credit or excessive ratios. Generally, to be eligible for "A Paper" a middle credit score of 620 or better is needed; however, with 20% down a lower credit score may be acceptable. Major delinquencies such as bankruptcies or foreclosures can make a client ineligible for "A Paper", especially if they are looking for a high LTV loan (95% or higher). All first mortgage "A Paper" is graded by an automated underwriting system.