New American Mortgage is now offering FHA jumbo purchase and refinance for Virginia. Contact us for pricing.
Purchase and Rate/Term Refinance
- 660 Minimum FICO for all borrowers
- Max DTI ( debt to income) : 31/43
- 2 Appraisals required for purchase transactions, regardless of LTV
- Gift Funds are not permitted, however, gifts of equity from family members may be accepted for LTV’s under 80%
- Max LTV of 94.99% for purchase/rate term refinance
Cash Out Refinance
- 680 Minimum FICO for all borrowers
- maximum cash out limited to $100,000 or the lesser of 20% of loan amount
- The borrower may not have any other financed properties other than the subject property
- 2 Appraisals are required for cash-out transactions, regardless of LTV
- Max LTV of 85% for cash out refinance
- Max DTI: 31/43
FHA Jumbo loan limits vary by county in Virginia.
New American Mortgage originates mortgage in the entire state of Virginia. Apply online for your FREE mortgage consultation today.
(757) 971-2876
naoma.doriguzzi@newamerican.com
