Fannie Mae / Freddie Mac Maximum Loan Limits

Program Guidelines

Primary Residence

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 636,150 95 95 620
2-Unit 814,500 80 80 620
3-Unit 984,525 80 80 620
4-Unit 1,223,475 80 80 620
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 636,150 95 95 620
2-Unit 814,500 80 80 620
3-Unit 984,525 80 80 620
4-Unit 1,223,475 80 80 620
Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 636,150 80 80 620
2-Unit 814,500 75 75 620
3-Unit 984,525 75 75 620
4-Unit 1,223,475 75 75 620

Second Home

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 636,150 85 85 620
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 636,150 85 85 620
Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 636,150 75 75 620

Investment Property

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 636,150 85 85 620
2-Unit 814,500 75 75 620
3-Unit 984,525 75 75 620
4-Unit 1,223,475 75 75 620
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 636,150 85 85 620
2-Unit 814,500 75 75 620
3-Unit 984,525 75 75 620
4-Unit 1,223,475 75 75 620
Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2 Min FICO
SFR/Condo 636,100 75 75 620
2-Unit 814,500 70 70 620
3-Unit 984,525 70 70 620
4-Unit 1,223,475 70 70 620
Risk-Based Add-OnsAdded to Points or Subtracted from Rebate, All Add-Ons are Cumulative

Super Conforming(Loan Terms Equal to 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 0.250 0.250 0.250 0.250 0.250 0.250 0.250

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+ 0.250 0.500 0.500 0.750 0.500 0.500 0.625
720-739 0.250 0.500 0.750 1.000 0.750 0.750 0.875
700-719 0.250 0.750 1.250 1.500 1.250 1.250 1.375
680-699 0.250 0.750 1.500 2.000 1.750 1.500 1.625
660-679 0.250 1.250 2.500 3.000 3.000 2.500 2.625
640-659 0.750 1.500 3.000 3.250 3.500 3.000 3.125
620-639 0.750 1.750 3.250 3.250 3.500 3.500 3.625

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 Account3(For Payment of Taxes and Insurance)
(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 n/a

Subordinate Financing(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) You are required to have an escrow account for the payment of taxes and insurance if the LTV ratio on your loan is over 80% (89.99% in California.)

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