Borrowers who use Newfi Wholesale’s 95% CLTV Piggyback can obtain jumbo loan amounts with an even lower down payment — while still getting agency pricing.
What’s exciting about the 95% CLTV Piggyback?
- Only 5% down payment required from borrower!
- Avoid mortgage insurance!
- Obtain agency pricing on your first mortgage!
- Purchase only
- Overlays to FNMA DU:
- 40% Maximum DTI
- 740 Minimum Credit Score
- 6 months PITIA reserves required (principal, interest, taxes, insurance, and association dues)
- Payment shock provision for first time home buyers: proposed PITIA payment cannot exceed 150% of current housing (rent) expense
- 1st Mortgage Standard or High Balance Conforming*
- 2nd Loan Amounts: $25,000 – $250,000
- 1st Mortgage Terms Offered:
- Fixed: 10, 15, 20, 30 Years
- ARMs: 5/1 And 7/1
- 2nd Mortgage Terms Offered: 15 or 30 Years
- Primary Residence Only
- Fully Delegated, and both loans underwritten concurrently
* High balance conforming in major metropolitan counties only
For more information
See our program guidelines or call the Newfi Wholesale team at 888-415-1620!