LTV/CLTV/HCLTV LTV/CLTV/HCLTV Primary Residence 90% 75/90/90% Second home 75% 70/75/75% investment Property 75% 70/75/75% . Legal Review Not required . Documentation DU Findings, if applicable Appraisal, if applicable Fannie Mae Form 1077/Freddie mac form 477 (Short Form), or like form Conventional Condo-PUD Warranty
Freddie Mac Home Possible mortgages are designed to grow your business and attract low- and moderate-income borrowers, first-time homebuyers, and underserved communities. Use the resources below and discover why a Home Possible mortgage may best fit for your borrowers’ needs. Get the facts about Home Possible.
confirming loan A conforming loan is a loan that meets specific requirements so the lender can easily sell the loan and doesn’t have to keep collecting payments for decades. Find out more here.
Discrepancies between data used in the new disclosure and in the system may result in delays. Ditech Financial has revised appraisal and LTV guidelines for VA Interest Rate Reduction Refinance Loans.
Freddie Mac’s Loan Prospector – Your Home for More Loans – Freddie Mac’s Loan Prospector is a powerful risk assessment tool that gives you ready access to Freddie Mac’s credit and pricing terms, making it easier for you to do business because we want to do business with you.
The Eligibility Matrix provides the comprehensive LTV, CLTV, and HCLTV ratio requirements for conventional first mortgages eligible for delivery to Fannie Mae. The
Comparison Matrix 9/13/2017 Information provided deemed reliable but not guaranteed. See Product Profile for complete requirements. information subject to change without notice. Page 1 of 3 Fannie Mae HomeReady Program Freddie Mac Home Possible Program LTV/CLTV Requirements 1 Unit: 97/97* with 620 credit score
2. If the LTV is > 80% review Mortgage Insurance section for specific MI company requirements 3. Maximum 105% CLTV only with Affordable Second approved for Freddie Mac’s Home Possible program (see Down Payment Assistance Section), otherwise max CLTV 97% 4. For 3-4 Units >80% LTV, due to MI restrictions, 720 minimum credit required and max 45% DTI
Three of the 10-year, permanent, fixed-rate loans feature a 3.6 percent interest rate, a 55 percent loan-to-value (LTV) ratio and full-term. Last month, Berkadia secured a seven-year Freddie Mac.
Freddie Mac Single-Family Seller/Servicer Guide (Guide). Product Matrices – First Guaranty Mortgage Corporation – Correpsondent Division. we put together this matrix showing different guidelines for HomeReady and Home Possible for purchase transactions. These guidelines are Fannie Mae’s and Freddie Mac’s and current as of Oct. 29, 2018.
Use this tool to verify if a borrower can qualify for a Freddie Mac Home Possible mortgage based on the property location and the borrowers’ qualifying income. For best results, enter the complete property street address.