A-paper
In the mortgage industry of the United States, A-paper is a term to describe a mortgage loan for which the asset and borrower meet the following criteria:
- In the United States, the borrower has a credit score of 680 or higher
- The borrower fully documents their income and assets
- The borrower's debt to income ratio does not exceed 35%
- The borrower retains 2 months of mortgage payments in reserves after closing
- The borrower injects at least 20% equity