On July 15, 2022, PHH Mortgage announced that it will cap the maximum loan amount for VA loans at $2.5 Million.
In addition to the maximum loan amount for VA loans, VA loans that exceed $1 million will be subject to the following minimum credit score requirements:
| Loan Amount | Credit Score |
|---|---|
| $1,000,001 - $2,000,000 | 700 |
| $2,000,001 - $2,500,000 | 720 |
The updated credit score requirements for large VA loans will be published to the product listings on AllRegs and is effective for new locks as of 9/12/2022.
If you have any questions, please contact your your Correspondent Specialist, Sales Executive, or contact us via the support line at 800-929-4744.
Thank you for your continued business.
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