Program Guidelines

Primary Residence

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 424,100 95 95
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 424,100 95 95
Risk-Based Add-Ons(Added to Points, All Add-Ons are Cumulative)

FICO Score(Loan Terms Greater than 15 years)

FICO LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
740+ 0.250 0.250 0.250
720-739 0.500 0.500 0.500
700-719 1.000 1.000 1.000
680-699 1.500 1.250 1.250
660-679 2.750 2.250 2.250
640-659 3.250 2.750 2.750
620-639 3.250 3.250 3.250

Condo(Loan Terms Greater than 15 years)

FICO LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
ALL 0.750 0.750 0.750

No Escrow/Impounds

FICO LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
ALL 0.250 0.250 n/a
Risk-Based Add-Ons(Added to Closing Costs)

Lender Paid Add-Ons - Purchase

FICO LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
740+ 0.750 1.700 2.050
720-739 0.900 2.100 2.550
700-719 1.000 2.500 3.000
680-699 1.150 3.050 4.050
660-679 1.550 4.150 5.400
640-659 1.700 4.500 5.900
620-639 1.850 4.950 6.600

Lender Paid Add-Ons - Refinance

FICO LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
740+ 0.750 1.700 2.050
720-739 0.900 2.100 2.550
700-719 1.000 2.500 3.000
680-699 1.150 3.050 4.050
660-679 1.550 4.150 5.400
640-659 1.700 4.500 5.900
620-639 1.850 4.950 6.600

Subordinate Financing Add-On(All Loan Terms)

LTV RANGE CLTV RANGE FICO <720 FICO >=720
<=75% <=80% 0.375 0.375
<=65% 80.01-95% 0.875 0.625
65.01-75% 80.01-95% 1.125 0.875
75.01-95% 76.01-95% 1.375 1.125

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.)

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