Answers (4)
- shapiroamg
- Contributions:3136
80%. Anything less is due to a lender with an overlay (as stated prior). An overlay is a risk factor.
If the lender is saying max is 75%, perhaps you should check around. I know at least one lender that is 80% without issues.
If the lender is saying max is 75%, perhaps you should check around. I know at least one lender that is 80% without issues.
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:4280
Sounds like the lender you spoke to has an "overlay" which means they offer less than what Fannie or Freddie allow. Find another lender.
- Geofrey Merino, "GMerino"
- Contributions:739
85% Primary
75% Second
75% Investment
Also depending on credit score. Shop it around, get a few quotes before making a decision.
75% Second
75% Investment
Also depending on credit score. Shop it around, get a few quotes before making a decision.
- Carl Henker, "Carl Henker"
- Contributions:785
The max LTV per Fannie Mae is 85% on a primary residence if you could find PMI. Expect 80% as a maximum assuming a one unit property. If 2 units or more or you are using an ARM and not a fixed rate product the limit is 75% for cash out. Good Luck
Fannie Mae and Freddie Mac Guideline Quesiton
Assuming new loan amount will be 417,000
Is it 75 percent or 80 percent min LTV? I have a lender than is claiming that it is 75% on a primary residence???? I thought Freddie and Fannie guidelines were 80% for a primary and 75% for a investment property.
Please clarify so I can move forward thanks
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.