Program highlights.
- Manufactured homes
- Manual underwriting
- Purchase buydowns: 3-2-1, 2-1, 1-1 and 1-0, fixed rate at 620+
Key figures.
- Score from
- 580
- Purchase, primary residence
- LTV up to
- 100%
- purchase, at 580+ to $1M
- Loans to
- $2M
- at 700+ and 100%
Limits by transaction.
Score · LTV · Loan in each cell, with the tier each needs beneath.
| Transaction | Primary residence |
|---|---|
| Purchase | 580+ score100% LTVloans to $2M100% at 580+ to $1M; $2M at 700+ and 100% |
| Cash-out | 620+ score90% LTVloans to $1.5M90% at 620+ to $1M; $1.5M at 700+ and 90% |
What to know.
- Purchase LTV
- Up to 100%Sufficient entitlement and the required guaranty are essential; credit and loan tiers apply.
- Purchase ceiling
- Up to $2M700+ FICO and maximum 45% DTI. Lower loan tiers have different underwriting requirements.
- Purchase credit
- 580-score tierThrough $1M, subject to AUS and program overlays.
- Cash-out
- Up to 90% LTVThrough $1M at 620 per AUS, or $1.5M at 700 with maximum 45% DTI. LTV includes any financed funding fee; not available in Texas.
- Minimum loan
- $75KLoan structure must satisfy the applicable program matrix.
- Occupancy
- Primary residenceEligible veteran / surviving-spouse requirements and occupancy rules apply.
- Ways to qualify
- Full docNot offered: bank statements, P&L only, WVOE only, asset utilization, DSCR, ITIN and foreign national.
Documents.
Other programs.
Compare with
- GovernmentVA IRRRLRate-reduction refinancing for existing VA borrowers
- Score
- 580+
- LTV
- 110%
- Loan
- $1.5M
- GovernmentFHAPrimary-home financing with flexible down-payment options
- Score
- 500+
- LTV
- 97.75%
- Loan
- County limit
- Conventional programsStart with the right agency and borrower path. Explore standard conventional financing alongside dedicated affordable-lending options.
Questions brokers ask.
What should I collect first?
Confirm borrower eligibility and available entitlement, then review the purchase price, loan amount, credit, income and residual-income requirements.
How is a VA refinance evaluated?
VA cash-out must satisfy a net tangible benefit test along with the transaction requirements. Existing VA borrowers exploring a rate-reduction refinance should use the separate IRRRL matrix.
Your next borrower. Our next conversation.
Bring us your next VA loan.
Send the scenario, ask JMAC a question, or get set up with your lending team.