Today’s “Mortgage Minute” is just in from our trusted lending partner, Senior Loan Officer Paul Diaz with New Penn Financial! If you’re thinking of buying a home in Northern Virginia this year – this may interest you!
“Please let your homebuyers know that qualifying for an FHA and VA loan with
New Penn Financial has never been easier! With New Penn’s unparalleled customer service and far-reaching guidelines, more borrowers gain access to a mortgage to purchase their new home. Here are some of the things we may be able to do:
- FICOs (credit scores) starting at 580 (FHA) and 560 (VA)
- Increased DTI (debt-to-income ratio) limits up to 60%
- Revised tradeline requirements
- Government down payment assistance permitted
Note that these are not set-in-stone guidelines, but we may have flexibility in these areas when compensating factors are involved. Examples of compensating factors would be high income, large assets or long time on the job.
When the market is contracting as a whole, New Penn Financial, LLC is expanding what we offer! Don’t hesitate to contact us. You may be pleasantly surprised that you can buy a home sooner than you think!
Contact Paul Diaz at New Penn Financial for full details of program guidelines.