LOAN TYPE OFFERINGS
Purchase Mortgage
Cash Out Refinance Mortgage (Type I and Type II)
Streamline IRRRL (Interest Rate Reduction Refinance Loan)
New Construction
Renovation
PROPERTY TYPES
1-4 Unit
Townhome
Condo
Modular Home
Manufactured Home (Double-wide or Greater)
PROGRAM HIGHLIGHTS
Credit Score of 550 or Greater
-VA Elite pricing requires 640 or greater
-New Construction & Renovation requires 620 or greater
Loan Terms of 10, 15, 20, 25 and 30 Years
Automated and Manual Underwriting Allowed
-VA Elite, New Construction and Renovation require automated approval
Maximum of 100% Financing (not including VA Funding Fee)
-No down payment required for purchase or new construction
-Cash out refinance may not allow full 100%
No Maximum Debt-to-Income Ratio (with Automated Approval)
Standard, High Balance and Jumbo Loan Sizes are Eligible
Bankruptcy (Ch 7) Discharged 2+ Years
-Extenuating circumstances allowed with 1+ year out of discharge
Bankruptcy (Ch 13) Reflects 12+ Payments Made & Trustee Approval
Foreclosure Finalized 2+ Years
-Extenuating circumstances allowed with 1+ year from finalization
All Income Allowed by Lender’s Handbook – VA Pamphlet 26-7
First Time and Subsequent Use of VA Benefits Accepted
Surviving Spouses are Eligible
Split-Entitlement is Eligible