Community Mortgage

What is a Community Mortgage?

Community Mortgage is a Non-QM loan program funded through a lender that holds Community Development Financial Institution (CDFI) certification. Because that lender is a certified CDFI, loans originated through this program are exempt from the Ability-to-Repay income-verification requirements of Dodd-Frank Section 1411 and Regulation Z, which is why income and employment are never stated or calculated on the application.

Approval instead runs on a tiered grid of credit score, loan-to-value, and reserves. On a purchase or rate-and-term refinance, LTV up to 80% requires a 720 FICO and 9 months of reserves, while LTV at 65% requires only a 640 FICO and 6 months of reserves. Cash-out refinances follow a similar but slightly more conservative grid, topping out at 75% LTV. Loan amounts run from $100,000 to $2.5 million on a primary residence only, cash-out is unlimited in amount, and every borrower completes a low-cost ($75) online homebuyer education course as part of closing. It is not available in every state, and it typically carries a higher rate, more points, or more fees than a fully documented loan.

Why isn't income on the application at all?

Most "no income documentation" loans still calculate income somewhere behind the scenes, or lean on an overlay to approximate it. Community Mortgage does not, because it does not have to. This program is funded through a lender that holds certification as a Community Development Financial Institution. Under Dodd-Frank Section 1411 and Regulation Z, loans that a certified CDFI originates for its own portfolio are exempt from the standard Ability-to-Repay requirement to document and verify a borrower's income.

That is the actual legal mechanism that lets Community Mortgage leave income and employment off the application entirely. It is not a paperwork shortcut, it is a different regulatory lane. In its place, underwriting leans harder on credit history, equity, and reserves, with a tiered grid that rewards stronger credit with higher allowable LTV.

How does Community Mortgage work?

1. Find your LTV and FICO tier. Community Mortgage qualifies off a tiered grid rather than a single cutoff. A purchase or rate-and-term refinance at 80% LTV needs a 720 FICO; at 65% LTV, a 640 FICO is enough. Cash-out refinances follow a similar grid topping out at 75% LTV. We will find the tier that fits your down payment or equity.
2. Confirm your reserves. Each tier carries its own reserve requirement: 6 to 9 months of liquid reserves, sourced and seasoned for at least 30 days. On a cash-out refinance at 70% LTV or below, the cash-out proceeds themselves can count toward that reserve requirement.
3. Verify credit history and tradelines. Underwriting looks for a clean recent mortgage history (0x30x12), at least 24 months since any foreclosure, short sale, deed-in-lieu, or bankruptcy, and two tradelines reporting 12+ months (or one tradeline reporting 24+ months). No income- or employment-based credit overlay applies, because neither is stated.
4. Complete homebuyer education and close. Every Community Mortgage transaction includes a low-cost, borrower-paid online homebuyer education course. From there, you close without any income calculation, employment verification, or tax returns in the file. Just credit, LTV, and reserves.

What credit score and down payment does Community Mortgage require?

Community Mortgage does not use a single FICO cutoff. The maximum LTV you qualify for moves with your credit score, and each tier has its own reserve requirement. Figures below are for primary residence, 30-year fixed financing (guidelines effective 07/22/2026).

Purchase and rate-and-term refinance

Cash-out refinance

Cash-out amount is unlimited, subject to the grid above, and cash-out proceeds may count toward the reserve requirement when the subject-property LTV is 70% or lower. Loan amounts over $1,000,000 up to the $2.5 million maximum are capped at 80% LTV/CLTV regardless of tier.

What are the qualifying requirements?

Community Mortgage trades income paperwork for firmer numbers elsewhere. Here is the baseline:

• FICO score of 640 or higher, tiered up to 720 by LTV (see the grid above)
• Loan-to-value up to 80% on purchase and rate-and-term, up to 75% on cash-out
• 6 to 9 months of liquid reserves, tiered by LTV; assets sourced and seasoned 30 days
• Loan amounts from $100,000 to $2.5 million
• Two tradelines reporting 12+ months, or one tradeline reporting 24+ months
• Clean mortgage history (0x30x12); 24 months since any foreclosure, short sale, deed-in-lieu, or bankruptcy
• Required online homebuyer education course ($75, borrower-paid) on every transaction
• Primary residence only, no second homes or investment properties
• Income and employment are never stated or verified on the application
• Not available in DC, ME, MD, NV, PA, WA, or WV; additional requirements apply in CO, CT, IL, and TX

Which properties and borrowers are eligible?

Eligible

• SFR, PUD, 2 to 4 unit, modular, and rural homes
• Detached condo (max 75% LTV), attached condo (max 70% LTV), non-warrantable condo (max 50% LTV)
• U.S. citizens, Permanent Resident Aliens, and Non-Permanent Resident Aliens with U.S. credit history and a qualifying work visa (E, G, H-1B, L-1, NATO, O-1, R-1, TN/NAFTA, EB-5, and similar)
• Up to 4 borrowers on title; gift funds toward down payment or closing costs from immediate family or a co-title-holding buyer

Not eligible

• Manufactured or mobile homes, log homes, condotels, co-ops, working farms, ranches or orchards, or properties over 20 acres
• Second homes and investment properties (primary residence only)
• Non-occupant co-borrowers; DACA, Asylum, or Temporary Protected Status; diplomats
• Title held in a trust, LLC, or corporation

What are the advantages of a Community Mortgage?

• No income or employment stated anywhere on the application: a genuine CDFI Ability-to-Repay exemption, not just light documentation
• Tiered LTV up to 80%, with FICO as low as 640 at lower LTV tiers
• Cash-out is unlimited in amount and can count toward reserves at 70% LTV or below
• Only 30 days of asset seasoning required, and no tax returns or employer contact anywhere in the file

What are the trade-offs?

• Primary residence only, not available for second homes or investment properties
• $100,000 minimum loan amount, and a required $75 borrower-paid homebuyer education course
• Typically a higher rate, more points, or more fees than a fully documented loan
• Not available in 7 states, with additional requirements in a few more

Equal Housing Opportunity. The Taylor Weiner Team operates through Lower, LLC, NMLS ID #1124061, 5950 Symphony Woods Road, Suite 312, Columbia, MD 21044. This is not a commitment to lend. Community Mortgage is a Non-QM loan program funded through a lender holding certification as a Community Development Financial Institution (CDFI), and is subject to credit approval, appraisal, reserve and asset verification, and property eligibility; not all applicants will qualify. Programs that do not require income documentation typically carry a higher interest rate, more points, or more fees than products that do. Program terms, loan limits, eligibility grids, and state availability shown are illustrative of guidelines effective 07/22/2026, subject to change without notice, and should be confirmed against current investor guidelines at the time of application. Not available in Washington D.C., Maine, Maryland, Nevada, Pennsylvania, Washington, or West Virginia; additional requirements apply in Colorado, Connecticut, Illinois, and Texas (no Section 50(a)(6) cash-out refinances).