Maximum LTV/TLTV/HTLTV Ratio Requirements for Conforming and Super Conforming Mortgages
PURCHASE AND "NO CASH-OUT" REFINANCE MORTGAGES**
(Fixed-Rate and ARMs)
** See chart below for LTV/TLTV/HTLTV ratios and other requirements for a "no cash-out" refinance of a mortgage currently owned or securitized by Freddie Mac.
Mortgage Purpose and Property Type |
Maximum LTV/TLTV/HTLTV Ratio |
1-unit Primary Residence |
95% |
2-unit Primary Residence |
85% |
3- and 4- unit Primary Residence |
80% |
Second Home |
90% |
1-unit Investment Property |
85% |
2-4 unit Investment Property |
75% |
Cash-Out Refinance Mortgages
(Fixed-Rate and ARMs)
Property Type |
Maximum LTV/TLTV/HTLTV Ratio |
1-unit Primary Residence |
80% |
2-4 unit Primary Residence |
75% |
Second Home |
75% |
1-unit Investment Property |
75% |
2-4 unit Investment Property |
70% |
Maximum LTV/TLTV/HTLTV ratios for certain mortgage products and property types listed below that vary from those shown above may be found in other sections of the Single-Family Seller Servicer Guide.
- Mortgages secured by a Manufactured Home – Guide Section 5703.3 (e)
- Home Possible® mortgage – Guide Section 4501.10
- Freddie Mac HomeOne® Mortgages – Guide Chapter 4605
- Mortgages to borrowers with a credit history that includes a previous mortgage foreclosure or a conveyance of a deed-in-lieu of foreclosure – Guide Section 5202.5 (a)
- Mortgages that use a Streamline Project Review – Guide Section 5701.4
- Community Land Trust Mortgages – Guide Section 4502.7
- Freddie Mac Enhanced Relief Refinance Mortgages – Guide Section 4304.3
Note: Minimum Indicator Score requirements can be found in Exhibit 25, Mortgages with Risk Class and/or Minimum Indicator Score Requirements.