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| MAXIMUM LOAN-TO-VALUE |
|
RISK-BASED ADD-ONS (Added
to Points, All Add-Ons Cumulative) (Apply to All
Loan Terms) |
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| PROPERTY TYPE |
MAX
LOAN AMOUNT |
MAX
LTV (1) |
MAX
CLTV (2) |
|
FICO (5) |
LTV <=60% |
LTV 60.01-70 |
LTV 70.01-75 |
LTV 75.01-80 |
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| PRIMARY RESIDENCE |
|
LOAN
AMOUNT > $1,000,000 (4) |
|
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| PURCHASE |
|
ALL |
0.625 |
0.625 |
n/a |
n/a |
|
|
| SFR/Condo |
1,500,000 |
70 |
70 |
|
CASH OUT
REFINANCE (4) |
|
|
| 2-Unit |
1,500,000 |
70 |
70 |
|
ALL |
0.500 |
0.500 |
n/a |
n/a |
|
|
| 3-Unit |
1,000,000 |
65 |
65 |
|
CONDO
<= 4 STORIES (4) |
|
|
| 3-Unit |
1,500,000 |
60 |
60 |
|
ALL |
0.500 |
0.500 |
n/a |
n/a |
|
|
| 4-Unit |
1,000,000 |
65 |
65 |
|
CONDO
> 4 STORIES (3) |
|
|
| 4-Unit |
1,500,000 |
60 |
60 |
|
ALL |
0.750 |
0.750 |
n/a |
n/a |
|
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| NO CASH OUT REFINANCE |
|
2-4
UNITS (4) |
|
|
| SFR/Condo |
1,500,000 |
70 |
70 |
|
ALL |
1.000 |
1.000 |
n/a |
n/a |
|
|
| 2-Unit |
1,500,000 |
70 |
70 |
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| 3-Unit |
1,500,000 |
60 |
60 |
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| 4-Unit |
1,500,000 |
60 |
60 |
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| CASH OUT REFINANCE |
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| SFR/Condo |
1,500,000 |
70 |
70 |
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| 2-Unit |
1,000,000 |
70 |
70 |
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| 3-Unit |
1,500,000 |
55 |
55 |
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| 4-Unit |
1,500,000 |
55 |
55 |
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| Notes: |
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| (1) LTV refers to Loan-to-Value, the maximum
percentage allowed when the mortgage amount is divided by the property value. |
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| Max LTV may be reduced on jumbo loans
in counties experiencing declining values for 12 months or more. You will be notified |
| if your property is within a county
deemed to have declining values. |
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| (2)
CLTV refers to Combined Loan-to-Value, the maximum percentage allowed when
all mortgages on the property (including |
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| home equity loans and lines of credit)
are combined and that total is divided by the property value. |
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| (3) The initial rate search for a condo assumes
a complex with four or less stories.
As part of your online application, you will tell us |
| how many stories the complex has and
new pricing will be provided, if applicable. |
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| (4) These add-ons are included in the initial
rate search. |
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| (5) Minimum FICO of 700 required on all jumbo
programs; Minimum FICO of 720 if loan amount is greater than $1,000,000. |
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