VA Matrix
Product Overview – Endeavor America currently offers the following VA loan programs:
High Balance
Standard
Advantage
IRRRL
x 30 year Fixed
x 30 year Fixed
x 15 year Fixed
x 30 year Fixed
x 15 year Fixed
x 30 year Fixed
x 15 year Fixed
> $417,000 loan amount
620 min FICO
580 - 619 FICO
No FICO
580 FICO with No Appraisal
AUS Refer
Maximum Base Loan1
Principal Residence
Base Loan
Purpose
Units
LTV
FICO
Purchase, Cash-out, IRRRL
1–4
100%
580
Conforming
IRRRL No Appraisal
1
Unlimited
580
Purchase, Cash-out, IRRRL
1–4
100%
580
High Balance
IRRRL No Appraisal
1
Unlimited
620
Second Home and Investment Property
Conforming
IRRRL
1–4
100%
580
High Balance
IRRRL
1–4
100%
600
Funding Fee
Type of Veteran
Down Payment
1st Time
Subsequent
Purchase
0% - <5%
2.15%
3.30%
Regular Military
5% to < 10%
1.50%
1.50%
≥ 10%
1.25%
1.25%
0% - <5%
2.40%
3.30%
5%
to
<
10%
1.75%
1.75%
Reservists/National Guard
≥ 10%
1.50%
1.50%
Cash-out Refinance
Regular Military
2.15%
3.30%
Reservists/National Guard
2.40%
3.30%
IRRRL: Regular Military AND Reservists/Nat. Guard
0.50%
0.50%
Endeavor America Loan
Services VA Matrix
Units
Conforming
High Balance
1
$75,000 - $417,000
$417,001 - $1,200,000
NOTE: VA’s max guarantee amount will only be based on the One-Unit (single family) limit.
Maximum Potential Guaranty2, 3, 4
Base Loan
Guaranty
≤ $45,000
50% of Loan
$45,001 - $56,250
$22,500
$56,251 - $144,000
40% of Loan with a maximum of $36,000
$144,001 - $417,000
25% of the Loan with a maximum of $104,250
> $417,0015
Lesser of 25% of VA county limit, OR
25% of loan amount
NOTES
1. Maximum guaranty is 25% of VA high costs county limit.
2. VA guaranty or combination of guaranty plus down payment/ subject
equity must equal ≥ 25% of the total loan amount including funding fee.
08/04/2016
3. The maximum guaranty is the lesser of available entitlement or the
maximum potential guaranty amount indicated above.
4. Minimum guaranty of 25% is required on IRRRLs.
5. CLTV is unlimited. The maximum LTV is 100% unless stated
otherwise in a subtopic in the EALS Wholesale VA Guidelines.
6. Max cash-out on manufactured homes with LTVs greater than 85% is $500.00.
7. <640 revolving debts to be paid off to qualify must also be closed.
8. EA does not make exceptions/overrides to GSE guidelines.