Loan amounts up to $832,750
Minimum down payment is 3%
Max CLTV is 105%; max LTV is 97%
Primary Residence only
MI is standard at 35%; reduced MI at 18% is permitted with a LLPA
Min. FICO as per AUS
Findings must state the loan is being assessed as a HomeOne
Min. LTV is 95.01%; max. LTV is 97%;
No High Balances allowed
Gift funds are allowed
DTI as per AUS
Temporary rate buydowns available
Minimum reserve requirements as per AUS
No cash-out allowed
Homebuyer education is required for first-time homebuyers
No manufactured housing allowed
Qualifying income as per AUS
Fixed term
Eligible citizenship: US citizen, lawfully residing Permanent and non-Permanent residents
Eligible property: single-family homes, 1-4 units, condominiums
Eligible borrowers: at least one borrower must be a first-time homebuyer
LTV and/or HTLTV > 95%: the mortgage being refinanced must be owned or securitized by Freddie Mac
TLTV ratios > 95% and secondary financing is not an Affordable Second; the mortgage being refinanced must be owned or securitized by Freddie Mac
TLTV ratios > 95% and secondary financing is an Affordable Second; the mortgage being refinanced does not have to be owned or securitized by Freddie Mac
