24-69: AUS Jumbo: Zoned Agricultural and Max DTI Expansions

07/12/2024

Effective immediately for existing pipeline and new applications, Pennymac is expanding AUS Jumbo requirements to include the following:

Zoned Agricultural

Properties zoned agricultural are eligible if all of the following requirements are met:

  • The property is </= 5.00 acres
  • There is no presence of barns, pole barns, stables, horse stalls, livestock, chicken coops, grain silos, crops (a few fruit trees, grapevines, etc. for personal household use are acceptable), or any agricultural related outbuildings
  • Subject property and the surrounding area must be non-agricultural
  • Subject property may not have an underlying affiliation with other land used for agricultural purposes.
  • Properties zoned commercial, agricultural > 5.00 acres, or mixed use are ineligible.

Max DTI Ratios

A maximum DTI ratio of 50.00% is eligible with an DU Approve or LPA Accept if all of the following requirements are met:

  • Primary residence
  • Maximum LTV 80.00%
  • Maximum loan amount $2,000,000
  • Scenarios not meeting the above criteria have a maximum DTI of 45.00% with an DU Approve or LPA Accept

Please contact your Sales Representative with any questions.