Isn’t it Time We Serve Them…VA Loan Programs




          Isn't it time we serve them...VA loans for veterans

          It’s time to focus on those that served our country…VA loans from Nations Direct Mortgage!

          Our veterans have sacrificed more than we can imagine to protect the freedoms we are privileged enough to enjoy in this great country of ours. VA programs from Nations Direct Mortgage offer the broadest range of guidelines and most aggressive pricing to ensure that our veterans can find financing for their home.

          Should you have any questions regarding this product or any other, please do not hesitate to contact me.

          Sincerely,

          Nations Direct Mortgage
          http://www.myNDM.com
          (949) 270-7900

          DOWNLOAD RATES

          Product Matrix – Standard VA Loan Program
          Loan Purpose Min FICO Units Total Loan Amt Max LTV/CLTV
          Purchase 620 1-4 $417,000 100%
          680 1 $650,000 100%
          740 1 $1,094,625 100%
          Refinance 620 1-4 $417,000 90%
          680 1 $650,000 90%
          740 1 $1,500,000 90%

          Product Guidelines – Standard VA Program
          • Available Products – 30yr/15yr Fixed, 5/1 ARM
          • Credit – 620 minimum credit score for all borrowers regardless of DU decision
          • Property – SFR, Condos (VA approved), PUD (attached and detached)
          • Occupancy -
          Owner Occupied only
          • Refinance – Based on property value indicated on the CRV/NOV + VA funding fee. Max cashout on loans exceeding $417,000 is $325,000. For VA IRRRL, see matrix below
          • Borrowers – A person who served on active duty in the Army, Navy, Air Force, Marines, or Coast Guard. Other restrictions apply, see full VA guidelines

          Please refer to the matrix for full product guidelines

          Product Matrix – VA IRRRL without Appraisal
          Loan Purpose Min FICO Units Total Loan Amt Max LTV/CLTV
          IRRRL
          Non-Credit Qualify
          620 1 $417,000 or
          max county limit
          (not to exceed $650,000)
          125%
          720 2-4 $417,000 or
          max county limit
          (not to exceed $650,000)
          125%

          Product Guidelines – VA IRRRL without Appraisal
          • Available Products – 30yr Fixed
          • Appraisal – AVM required on all IRRRLs upon submission. Acceptable AVMs are from RESDirect or CoreLogic. If "no value" is returned from either AVM, 2055 required.
          Other restrictions apply.
          • Debt Ratio – If loan is a credit qualify IRRRL, the max DTI is 41/50% (housing debt/total debt)
          • Property – SFR, Condos (VA approved), PUD (attached and detached), 2-4 units (total loan amt <=$650k)
          • Occupancy – Owner Occupied only (if 2-4 units, one must be owner occupied)
          • Payment History – Must evidence at least 3 months mortgage history on current mortgage
          • Reserves – Not required unless a loan is a credit qualify IRRRL

          Please refer to the matrix for full product guidelines

          As a Fannie Mae Direct Seller and Ginnie Mae Approved lender, we have greater flexibility than most lenders with guidelines that open the door to more prosperity for you and your borrowers.

          Nations Direct is not just a lender. We’re your partner for prosperity. We’re continually innovating to offer our partners the highest quality service, the most competitive rates and the most efficient processes in the wholesale lending industry.


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