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Direct Mortgage VA Loan Programs
**Updated 1 Oct 2008** |
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Program Number |
Program Description |
Program Type |
Max Loan Amount |
Max LTV/ CLTV |
Min FICO |
Occupancy Types |
Purpose |
Doc Types |
6105 |
VA Traditional Fixed |
Government |
Conforming Loan Limit |
100% |
None |
OO |
P |
Full |
6176 |
VA IRRRL (Interest Rate Reduction Refinance Loan) |
Government |
Conforming
Loan Limit |
100% |
N/A3 |
OO |
R&T |
Full |
6178 |
VA DU Purchase,
Fixed
|
Government |
Conforming Loan Limit |
100% |
None |
OO |
P |
Full |
6179 |
VA DU Refinance
|
Government |
Conforming Loan Limit |
100% |
None |
OO |
CO |
Full |
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*Loan programs subject to change at any time without prior notice.*
1 Maximum mortgage amounts for single family homes.
3 Credit scores lower than 620 may be allowed with and without price adjustments.
NOTE: Values shown are examples of maximums and minimums allowed. Consult Direct Mortgage Loan Program Guidelines for details regarding any specific loan.
Download the VA sponsorship form.
View a list of our FHA programs.
View a list of all our loan programs.
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Legend:
OO = Owner Occupied
NOO = Non Owner Occupied or Investment
2nd = Second Home
P = Purchase
R&T = Rate & Term Refinance
CO = Cash Out Refinance
Stated=Stated Income Verified Assets
SISA = Stated Income Stated Asset
NINA = No Income No Asset
NIVA = No Income Verified Asset
Balloon = Balance Due Before End of Amortized Term
No Doc = Income, Assets, & Employment Neither Stated Nor Verified
No Ratio = Income Not Stated, Employment & Assets Verified
FHA = Federal Housing Administration
HUD = Housing & Urban Development, U.S. Department of
DU® = Desktop Underwriter®
LP = Loan Prospector®
FICO® score=Fair Isaac Corporation score or Beacon® score
VA = Veterans Affairs, United States Department of |
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