New American Funding Preferred Jumbo Loans

Product Guidelines—Preferred Jumbo Loans

Qualifying Loan Types

Purchase Jumbo Loans

  • Maximum LTV in all risk grades: 10 and 15-year-fixed-rate mortgages and fully amortizing 10/1 ARM mortgage products are eligible (except ineligible markets)

For primary and second homes: rate-and-term refinance loans
There is limited cash-out when paying off the following items:

  • Outstanding balance of the principal for the existing subordinate loan used to acquire the subject property (purchase money 2nd)

  • In the past 12 months, subordinate HELOC with cumulative draws less than two-thousand dollars

  • 12-month, seasoned, closed-end mortgage balance


    Dallas Jumbo 
    Loan Options

    10 and 15-year fixed mortgages 
    5/1, 7/1 and 10/1 ARM loans 
    Interest-only mortgages (only available for primary residences) 


    Eligible Residence

    Primary residence, 2nd home and investment property 
    One-unit, either attached or detached single-family residence 
    Condos and PUDs that are Fannie Mae-eligible 


    Qualifying Rate
     & Payment Info

    5/1 and 7/1 ARM (Fully Amortized): 

    • Greater of the note rate + 2% or the fully indexed rate

    10/1 ARM and fixed-rate: 

    • At the note rate, I0 mortgage borrowers must qualify using the full PITIA based on the greater of the note rate + 2% or the fully indexed rate


    Jumbo Loan Amount
     (In Certain Markets,
     Some LTV’s May Be

    Primary Residence—Purchase or Limited Cash Out:

    • Up to 80% LTV/CLTV up to $1,000,000

    • Up to 70% LTV/CLTV up to $1,000,001-$2,500,000

    • Up to 65% LTV/CLTV up to $2,500,001-$3,000,000

    Limited Cash-Out or Second-Home Purchase:

    • Up to 70% LTV/CLTV up to $1,000,000

    • Up to 65% LTV/CLTV $1,000,001-$1,500,000

    Investment—Purchase Only:

    • Up to 50% LTV/CLTV up to $1,000,000


    Minimum FICO
     Credit Score



    Qualifying Debt-to-Income 
    (DTI) Ratio

    40% Maximum


    Reserve Requirement

    Documented PITIA – 12 Months


    Escrow Waiver

    No Cost – Available



    On a case-by-case basis, considerations reviewed. Use the contact form on this page or use the contact form to the right.
    Leave Comments