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 5703.9
- Home Possible® Mortgage - Guide Section 4501.7
- 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.