TIP OF THE DAY- FREDDIE-FREDDIE LTV/CLTV

TIP OF THE DAY- LTV/CLTV

 

FANNIE

 

 

Standard Eligibility Requirements - Desktop Underwriter Version 10.3

Excludes:  DU Refi Plus, High LTV Refinance,  HomeReady, HomeStyle Renovation, and Manufactured Housing

Transaction Type

Number of Units

Maximum LTV, CLTV, HCLTV

Principal Residence

 

Purchase

Limited Cash-Out Refinance

 

1 Unit

FRM: 97% (1)

ARM: 95%

2 Units

FRM/ARM: 85%

3-4 Units

FRM/ARM: 75%

 

Cash-Out Refinance

1 Unit

FRM/ARM: 80%

2-4 Units

FRM/ARM: 75%

Second Homes

Purchase

Limited Cash-Out Refinance

 

1 Unit

 

FRM/ARM: 90%

Cash-Out Refinance

1 Unit

FRM/ARM: 75%

Investment Property

 

Purchase

1 Unit

FRM/ARM: 85%

 

2-4 Units

 

FRM/ARM: 75%

Limited Cash-Out Refinance

1-4 Units

FRM/ARM: 75%

 

Cash-Out Refinance

 

1 Unit

 

FRM/ARM: 75%

 

2-4 Units

 

FRM/ARM: 70%

FREDDIE

PURCHASE AND "NO CASH-OUT" REFINANCE MORTGAGES
(Fixed-Rate and ARMs)

Property Type

Maximum LTV/TLTV/HTLTV ratio

1-unit Primary Residence

95%

2-unit Primary Residence

85%

3- and 4-unit Primary Residences

80%

Second home

90%

1-unit Investment Property

85%

2- to 4-unit Investment Property

75%

 

CASH-OUT REFINANCE MORTGAGES
(Fixed-Rate and ARMs)

Property Type

Maximum LTV/TLTV/HTLTV ratio

1-unit Primary Residence

80%

2- to 4-unit Primary Residence

75%

Second home

75%

1-unit Investment Property

75%

2- to 4-unit Investment Property

70%

 

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