PURCHASE AND "NO CASH-OUT" REFINANCE MORTGAGES**
(Fixed-Rate and ARMs)

** See chart below for LTV/TLTV/HTLTV ratios and other requirements for a "no cash-out" refinance of a mortgage currently owned or securitized by Freddie Mac.

Mortgage Purpose and Property Type

Maximum LTV/TLTV/HTLTV Ratio

1-unit Primary Residence

95%

2-unit Primary Residence

85%

3- and 4- unit Primary Residence

80%

Second Home

90%

1-unit Investment Property

85%

2-4 unit Investment Property

75%

 

Cash-Out Refinance Mortgages
(Fixed-Rate and ARMs)

Property Type

Maximum LTV/TLTV/HTLTV Ratio

1-unit Primary Residence

80%

2-4 unit Primary Residence

75%

Second Home

75%

1-unit Investment Property

75%

2-4 unit Investment Property

70%

 

Maximum LTV/TLTV/HTLTV ratios for certain mortgage products and property types listed below that vary from those shown above may be found in other sections of the Single-Family Seller Servicer Guide.

Note: Minimum Indicator Score requirements can be found in Exhibit 25, Mortgages with Risk Class and/or Minimum Indicator Score Requirements.