just very brief answer in terms of your question;
FHA; if it goes in to Manual under writing is 43 is back ratio. however, it may go up to 50% if it is DU approve. **** FHA is only for Primary****
FNMA**** depends on conforming or jumbo; (1) Jumbo 45% is full doc 35 % for SIVA. (2) Conforming;; still depends on DU result. And it also depends on banks. There are various negotiation with banks and FNMA, therefore, each bank has various requirement.
Please email me I will send you a list of programs and products which Wachovia offer in the DC area.
My email is firstname.lastname@example.org or call me at 415 438 0923/ 703 760 5664.