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| Conforming to $417,000 Fixed Rate HARP - 30, 25, 20 and 15 Year |
Back to Program Guidelines |
| Program Guidelines - Updated: 12/10/2011 |
| MAXIMUM LOAN-TO-VALUE | RISK-BASED ADD-ONS | ||||||||||
| (Added to Points, All Add-Ons are Cumulative) | |||||||||||
| PROPERTY TYPE | MAX LOAN AMOUNT | MAX LTV (1,5) | MAX CLTV (2) | FICO | LTV 80.01-85 | LTV 85.01-90 | LTV 90.01-95 | LTV 95.01-97 |
LTV 97.01-105 | LTV 105.01-125 | |
| PRIMARY RESIDENCE | FICO SCORE (3) | ||||||||||
| NO CASH OUT REFINANCE | (Loan Terms Greater Than 15 Years) | ||||||||||
| SFR/Condo | 417,000 | 125 | UNLIMITED | 740+ | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
| 2-Unit | 533,850 | 125 | UNLIMITED | 720-739 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
| 3-Unit | 645,300 | 125 | UNLIMITED | 700-719 | 0.500 | 0.500 | 0.500 | 0.500 | 0.500 | 0.500 | |
| 4-Unit | 801,950 | 125 | UNLIMITED | 680-699 | 0.750 | 0.750 | 0.750 | 0.750 | 0.750 | 0.750 | |
| SECOND HOME | 660-679 | 1.750 | 1.750 | 1.750 | 1.750 | 1.750 | 1.750 | ||||
| NO CASH OUT REFINANCE | 640-659 | 2.250 | 2.250 | 2.250 | 2.250 | 2.250 | 2.250 | ||||
| SFR/Condo | 417,000 | 125 | UNLIMITED | 620-639 | 2.750 | 2.750 | 2.750 | 2.750 | 2.750 | 2.750 | |
| INVESTMENT PROPERTY | HARP REFINANCE (3) | ||||||||||
| NO CASH OUT REFINANCE | (All Loan Terms) | ||||||||||
| SFR/Condo | 417,000 | 125 | UNLIMITED | ALL | 0.000 | 0.000 | 0.000 | 0.500 | 1.000 | 2.000 | |
| 2-Unit | 533,850 | 125 | UNLIMITED | CONDO (3) | |||||||
| 3-Unit | 645,300 | 125 | UNLIMITED | (Loan Terms Greater Than 15 Years) | |||||||
| 4-Unit | 801,950 | 125 | UNLIMITED | ALL | 0.750 | 0.750 | 0.750 | 0.750 | 0.750 | 0.750 | |
| 2-4 UNITS (3) | |||||||||||
| (All Loan Terms) | |||||||||||
| ALL | 1.000 | 1.000 | 1.000 | 1.000 | 1.000 | 1.000 | |||||
| INVESTMENT PROPERTY (3) | |||||||||||
| (All Loan Terms) | |||||||||||
| ALL | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | |||||
| SUBORDINATE FINANCING ADD-ON (4) | |||||||||||
| (All Loan Terms) | |||||||||||
| LTV RANGE | CLTV RANGE | FICO <720 | FICO >=720 | ||||||||
| 65.01-95% | 90.01-95% | 0.500 | 0.250 | ||||||||
| 75.01-95% | 76.01-90% | 0.250 | 0.000 | ||||||||
| Any | >95% | 1.500 | 1.500 | ||||||||
| Notes: | |||||||||||
| (1) LTV refers to Loan-to-Value, the maximum percentage allowed when the mortgage amount is divided by the property value. | |||||||||||
| (2) CLTV refers to Combined Loan-to-Value, the maximum percentage allowed when all mortgages on the property (including | |||||||||||
| home equity loans and lines of credit) are combined and that total is divided by the property value. | |||||||||||
| (3) These add-ons are included in the initial rate search. | |||||||||||
| (4) This add-on is not included in the initial rate search because we do not know if you will be subordinating a home equity loan | |||||||||||
| or line of credit. As part of your online application, you will tell us this and new pricing will be provided, if applicable. | |||||||||||
| (5) 15 YEAR FIXED RATE MORTGAGES OWNED BY FANNIE MAE ARE CURRENTLY CAPPED AT 105% LTV. | |||||||||||
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