Maximum LTV/TLTV/HTLTV Ratio Requirements for Conforming and Super Conforming Mortgages
Purchase and “No Cash-Out” Refinance Mortgages | |||
|---|---|---|---|
| Property Type | Maximum LTV/TLTV/HTLTV Ratio | ||
| Accept Mortgages, Excluding Super Conforming Mortgages | Super Conforming Mortgages | Manually Underwritten Mortgages | |
| 1-Unit Primary Residence | 95% | 95% | 95% |
| 2-Unit Primary Residence | 95% | 85% | 85% |
| 3- and 4-Unit Primary Residences | 95% | 80% | 80% |
| Second Home | 90% | 90% | N/A |
| 1-Unit Investment Property | 85% | 85% | N/A |
| 2- to 4-Unit Investment Property | 75% | 75% | N/A |
Cash-Out Refinance Mortgages | ||
|---|---|---|
| Property Type | Maximum LTV/TLTV/HTLTV Ratio | |
| Accept Mortgages (Including Super Conforming Mortgages) | Manually Underwritten Mortgages (Including Superconforming Mortgages) | |
| 1-Unit Primary Residence | 80% | 80% |
| 2- to 4-Unit Primary Residence | 75% | 75% |
| Second Home | 75% | N/A |
| 1-Unit Investment Property | 75% | N/A |
| 2- to 4-Unit Investment Property | 70% | N/A |
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 5703.8
- 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 5202.1
- Mortgages that use a Streamline Project Review – Guide Section 5701.4
- Community Land Trust Mortgages – Guide Section 4502.5
- Freddie Mac Enhanced Relief Refinance Mortgages – Guide Section 4304.3
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