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Changes to FHA and VA Approval Matrices

Effective January 3, 2017, JMAC Lending’s FHA and VA matrices have been updated to allow for expanded approval parameters. The updated matrices can be found on the JMAC Lending website:

Highlights include:

  • Minimum FICO of 580 for all loan amounts (previously only for conforming). Please note: the maximum LTV for VA cash out limited to 90% for credit scores 580-619 still applies.

  • Removed DTI overlay for credit scores less than 620 on FHA full doc (previously was 43% if credit score was less than 620). Now DTI is per AUS approval for all credit scores 580+.

  • Removed payment shock restriction on all purchases.

  • Added requirement for housing counseling certificate in certain situations (refer to matrices for specifics).

  • Added maximum number of financed properties (4).

  • Removed credit score overlay for 3 to 4 units – now available for all FICO scores 580 and above.

  • Added AVM requirement for VA IRRRL with max LTV/CLTV of 115% for credit scores less than 620.

For questions and additional information, please contact your Account Executive, Account Manager, or call our client support directly at (949) 390-2688 or email