INTRODUCING OUR 100 DPA PRODUCT LET US HELP

INTRODUCING OUR 100% DPA PRODUCT LET US HELP YOU BUY THAT HOME TWO CHOICES – ADVANTAGE OR EDGE IN HOUSE APPROVAL!!! 19 04 05 20 1

100% DOWN PAYMENT ASSISTANT PROGRAM TWO CHOICES ADVANTAGE EDGE 1 st Loan Amount 96. 5% 1 st FHA Conforming loan limits Same 2 nd TD 3. 5% 8% Note Rate – 10 Yr. Amortized – Payment is counted in ratios Same Lender Paid Compensation Admin fee of $1095 to Essex. A 3 rd party processing fee may be charged up to $1000. Total of all fees, including lender comp, may not exceed 3%. Same Borrower Paid Compensation Admin to Essex $1095. Up to 2. 375% for broker. You may charge 3 rd party processing fee up to $1000, but total fees may not to exceed 3% Same 1 ST Time Homebuyer Not required (but at closing may not own any other property Not required (may own other property at closing) FICO 640 620+ Max 50% & DU approval Up to 56. 99 & DU Approval DTI 04 05 19 20 (manual underwriting available with compensating factors – ratios up to 40/50 is possible) 2

DPA PROGRAM CONTINUED…. TWO CHOICES ADVANTAGE EDGE Income 115% of AMI No Income Restrictions Sale Price Restrictions None Property 1 unit SFR, Condo or PUD 1 -2 Units SFR, Condo or PUD Non Occupant C/B Not allowed Allowed- 1 unit only W 2 only for Income Allowed Home Ownership Counseling Not Required for FICO SCORES BETWEEN 620 -239 https: //www. borrowersuccess. org/prepurpurcha se Borrowers with credit scores between 620 -39 need to participate in pre-purchasing counseling prior to close. To schedule, contact locks@essexmotgage. com for information needed to register. Once you advise us you are registering and we will enter all the mandatory information to their site. The borrower can then 4/5/20190004/5/201912/15/20214/5/2 0194/5/2019012/15/2021 call 866 -237 -9001 to schedule their pre-purchasing counseling. Proof of class will be a PTD condition. MCC’s Allowed if available Limitation of loans No limit No Limit Lending States All Essex approved states except for NY Same as Advantage 19 04 05 20 3

WHEN TO LOCK & PROGRAM FEES HOW AND WHEN TO LOCK FEES • Manual Lock • $1095 Essex Admin Fee Email lock to: locks@essexmortgage. c om • $1, 000 Max 3 rd Party Processing Fee, if applicable • FICO Hits, if applicable • Loan Amount hits, if applicable • Lender Paid or “Borrower Paid, depending on pricing of loan. (max borrower paid is 2. 375%) • • Loan must be approved and appraisal signed off by underwriter The total fees may not exceed 3% Points and Fees Test. 19 04 05 20 4

SAMPLE RATE SHEET FOR ADVANTAGE AND EDGE 100% DPA PRODUCTS 19 04 05 20 5

SECONDARY FINANCING ON 1003 19 04 05 20 6

SECONDARY FINANCING –DO/DU Page 2 -Types, Terms, & Property Page 7 -Transaction Details 19 04 05 20 7

Select the state, select the county, click the button “View Go to the HUD Area Median Income Site. This can be found online at: County Calculations” https: //www. huduser. gov/portal/datasets/il. html 19 04 05 20 8

Always begin at 1 -4 people living in the house, 2 people always use 4, 3 people always use 4. . you get the idea, that’s why 4 is in bold as you begin there J LOS ANGELES COUNTY here are sample income limits, LA County at min the income limit is 111, 435 for 1 to 4 people in household The 1 -4 person household very low income is $48, 450 x 2. 3 = $111, 435 for a household of 1 -4 persons. The 6 person household very low income is $56, 250 x 2. 3 = $129, 375 for a household of 6 persons. The 8 person household very low income is $64, 000 x 2. 3 = $147, 200 for a household of 8 persons 19 04 05 20 9

HOW TO SUBMIT Process your loan file as usual (upload 1 st& 2 nd – 2 loan numbers) 1 st: FHA guidelines (okay to use FHA submission sheet); submit complete file. 2 nd : Submission sheet (nothing else) Programs Codes: § Advantage: 1 st: FHA § 2 ND: § Edge: 1 st FHA § 2 ND: 3030 CHRA 4030 CHRA 3030 CH 4030 CHDPA Advise submission@essexmortgage. com of both loan numbers when uploaded. We approve – We fund! LET’S CLOSE LOANS TOGETHER 19 04 05 20 10