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| Conforming Home Path to $417,000 (No PMI) 10/1, 7/1, 5/1 and 3/1 Adjustable Rates |
Back to Program Guidelines |
| Program Guidelines - Updated: 1/6/2012 |
| MAXIMUM LOAN-TO-VALUE | RISK-BASED ADD-ONS | |||||||||||
| (Added to Points, All Add-Ons are Cumulative) | ||||||||||||
| PROPERTY TYPE | MAX LOAN AMOUNT | MAX LTV (1) | FICO | LTV <=60% | LTV 60.01-70 | LTV 70.01-75 | LTV 75.01-80 | LTV 80.01-85 | LTV 85.01-90 | LTV 90.01-95 | ||
| PRIMARY RESIDENCE | FICO SCORE (2) | |||||||||||
| PURCHASE | (Loan Terms Greater Than 15 Years) | |||||||||||
| SFR/Condo | 417,000 | 95 | 740+ | 0.000 | 0.000 | 0.000 | 0.250 | 0.250 | 0.250 | 0.250 | ||
| 2-Unit | 533,850 | 80 | 720-739 | 0.000 | 0.000 | 0.250 | 0.500 | 0.500 | 0.500 | 0.500 | ||
| 3-Unit | 645,300 | 75 | 700-719 | 0.000 | 0.500 | 0.750 | 1.000 | 1.000 | 1.000 | 1.000 | ||
| 4-Unit | 801,950 | 75 | 680-699 | 0.000 | 0.500 | 1.250 | 1.750 | 1.500 | 1.250 | 1.250 | ||
| SECOND HOME | 660-679 | 0.000 | 1.000 | 2.250 | 2.750 | 2.750 | 2.250 | 2.250 | ||||
| PURCHASE | CONDO (2) | |||||||||||
| SFR/Condo | 417,000 | 90 | (Loan Terms Greater Than 15 Years) | |||||||||
| INVESTMENT PROPERTY | ALL | 0.000 | 0.000 | 0.000 | 0.750 | 0.750 | 0.750 | 0.750 | ||||
| PURCHASE | 2-4 UNITS (2) | |||||||||||
| SFR/Condo | 417,000 | 90 | (All Loan Terms) | |||||||||
| 2-Unit | 533,850 | 80 | ALL | 1.000 | 1.000 | 1.000 | 1.000 | n/a | n/a | n/a | ||
| 3-Unit | 645,300 | 75 | INVESTMENT PROPERTY (2) | |||||||||
| 4-Unit | 801,950 | 75 | (All Loan Terms) | |||||||||
| ALL | 1.500 | 1.500 | 1.500 | 2.000 | 2.500 | 2.500 | n/a | |||||
| NO PMI (2) | ||||||||||||
| (All Loan Terms) | ||||||||||||
| ALL | n/a | n/a | n/a | n/a | 1.000 | 1.750 | 2.500 | |||||
| Notes: | ||||||||||||
| (1) LTV refers to Loan-to-Value, the maximum percentage allowed when the mortgage amount is divided by the property value. | ||||||||||||
| (2) For FICOs less than 740, these add-ons are not included in the initial rate search because we do not know your FICO score. | ||||||||||||
| As part of your online application, your credit will be run and new pricing will be provided, if applicable. | ||||||||||||
| * Subordinate financing is not allowed on this product. | ||||||||||||
| **Minimum Credit Score of 660 is required | ||||||||||||
| ***Property must be designed as a Home Path Eligible loan per Fannie Mae's Home Path website (www.homepath.com) | ||||||||||||
|
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