Fannie Mae / Freddie Mac Maximum Loan Limits

Program Guidelines

Primary Residence

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 636,150 95 95
2-Unit 814,500 80 80
3-Unit 984,525 80 80
4-Unit 1,223,475 80 80
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 636,150 95 95
2-Unit 814,500 80 80
3-Unit 984,525 80 80
4-Unit 1,223,475 80 80
Cash Out Refinance3
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 636,150 80 75
2-Unit 814,500 75 75
3-Unit 984,525 75 75
4-Unit 1,223,475 75 75

Second Home

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 636,150 85 85
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 636,150 85 85
Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 636,150 75 75

Investment Property

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 636,150 85 85
2-Unit 814,500 75 75
3-Unit 984,525 75 75
4-Unit 1,223,475 75 75
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 636,150 85 85
2-Unit 814,500 75 75
3-Unit 984,525 75 75
4-Unit 1,223,475 75 75
Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 636,100 75 75
2-Unit 814,500 70 70
3-Unit 984,525 70 70
4-Unit 1,223,475 70 70
Risk-Based Add-Ons(Added to Points or Subtracted from Rebate, All Add-Ons are Cumulative)

FICO Score(Loan Terms Greater than 15 years)

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
740+ 0.000 0.250 0.250 0.500 0.250 0.250 0.500
720-739 0.000 0.250 0.500 0.750 0.500 0.500 0.500
700-719 0.000 0.500 1.000 1.250 1.000 1.000 1.000
680-699 0.000 0.500 1.250 1.750 1.500 1.250 1.250
660-679 0.000 1.000 2.250 2.750 2.750 2.250 2.250
640-659 0.500 1.250 2.750 3.000 3.250 2.750 2.750
620-639 0.500 1.500 3.000 3.000 3.250 3.250 3.250

Cash Out Refinance(All Loan Terms)

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
740+ 1.375 1.625 1.625 1.875 n/a n/a n/a
720-739 1.375 2.000 2.000 2.125 n/a n/a n/a
700-719 1.375 2.000 2.000 2.125 n/a n/a n/a
680-699 1.375 2.125 2.125 2.75 n/a n/a n/a
660-679 1.625 2.125 2.125 2.875 n/a n/a n/a
640-659 1.625 2.625 2.625 3.625 n/a n/a n/a
620-639 1.625 2.625 2.625 4.125 n/a n/a n/a

Condo(Loan Terms Greater than 15 years)

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
ALL 0.000 0.000 0.000 0.750 0.750 0.750 0.750

2-4 Units(All Loan Terms)

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
ALL 1.000 1.000 1.000 1.000 n/a n/a n/a

Investment Property(All Loan Terms)

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
ALL 2.125 2.125 2.125 3.375 4.125 n/a n/a

No ESCROW/Impounds(All Loan Terms)

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
ALL 0.250 0.250 0.250 0.250 0.250 0.250 0.250

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.               

(3)* Super Conforming 10 Year Fixed is capped out at 60% max LTV for a cash out refinance

 

Our most popular program! Because 30 years is the longest term available, the monthly payments will be the lowest of any of the fixed rate programs.
An “in between” option, providing a lower interest rate than the 30-year fixed and a lower payment than the 15-year fixed.
Our second most popular program! You pay a lower rate and build equity faster than you would with a longer term program. The monthly payments are higher, but the savings over the life of the loan are considerable.