Program Max LTV / CLTV / HCLTV
Fixed & ARM shown in separate columns · one value = both| Purchase | LCOR | Cash-Out Refi | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Product | Occupancy | Units | Fixed | ARM | Fixed | ARM | Fixed | ARM | Min FICO* | Max DTI* |
| Conventional DU / High BalanceHigh Balance available for DU only | Primary Residence | 1 Unit | 97%HB 95% | 95% | — | 80% | 80% | 6202 | 50% | |
| 2 Unit | 95% | 85% | — | 75% | 75% | |||||
| 3–4 Unit | 95% | 75% | — | — | ||||||
| Second Home | 1 Unit | 90% | 90% | — | 75% | 75% | ||||
| Investment | 1 Unit | 85% | 85% | 75% | 75% | 75% | 75% | |||
| 2–4 Unit | 75% | 75% | — | 70% | 70% | |||||
| Conventional LPANo High Balance | Primary Residence | 1 Unit | 97%1 | 95% | — | 80% | 80% | 6202 | 50% | |
| 2 Unit | 85% | 80% | — | 75% | 75% | |||||
| 3–4 Unit | 80% | 80% | — | — | ||||||
| Second Home | 1 Unit | 90% | 90% | — | 75% | 75% | ||||
| Investment | 1 Unit | 85% | 85% | — | 75% | 75% | ||||
| 2–4 Unit | 75% | 75% | — | 70% | 70% | |||||
| HomeReady / Home Possible* | Primary Residence | 1 Unit | 97% | — | — | 620 | 50% | |||
| 2–4 Unit | 95% | — | — | |||||||
| FHA | Primary Residence | 1–4 Unit | 96.5% | 97.75% | 80% | 5801 | AUS Approval | |||
| StreamlineCredit Qualifying | 1–4 Unit | — | 97.75% | — | 620 | N/A | ||||
| StreamlineNon Credit Qualifying | — | 640 | ||||||||
| VA | Primary Residence | 1–4 Unit | 100% | — | 100%3 | 600 | 60% | |||
| IRRRL | 1–4 Unit | — | 100% | — | 620 | 60% | ||||
| Rural Development | Primary Residence | 1 Unit | 100% / 102%after Gfee | — | — | 620 | GUS Approval | |||
| HomeStyle Renovation | Primary Residence | 1 Unit | 97% | — | — | 700 | Approve / Eligible | |||
| 2 Unit | 95% | — | — | |||||||
| Second Home | 1 Unit | 90% | — | — | ||||||
| New Construction | Primary Residence | 1 Unit | 95% | — | — | 700 | 45% | |||
| FHA High Balance | Primary ResidenceNo streamlines | 1–4 Unit | 96.5% | — | 85% | 720 | 55% | |||
| VA High Balance | Primary Residence | 1–4 Unit | 100% | — | — | 720 | 60% | |||
Footnotes
- 1Other restrictions may apply, please see Guide.
- 2For LTVs > 95% on purchase transactions, borrower must be FTHB unless combined with HomeReady; for LCOR, the loan must be owned or securitized by Fannie.
- 3VA COR over 90% requires to be locked in a separate product in Optimal Blue.
- *Please see product guide for additional specialty products, such as Jumbo and Expanded.
Other
All Fannie Mae / Freddie Mac / Standard FHA / VA / USDA guidelines and restrictions apply. Must meet QM guidelines. Please reference the official product guide for additional product-specific information or overlays.
Key
LCORLimited cash-out refinance
HBHigh Balance
FTHBFirst-time homebuyer