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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