Fixed
• Terms of 8, 10, 12, 15, 20, 22, 25, 27, and 30 years
• Max LTV up to 97%
• CLTV up to 105%
• Giftable down payment
• Blended ratios for non-occupant co-borrower
ARM
• 3/1, 5/1, 7/1, and 10/1
• Max LTV up to 95%
• Giftable down payment
• Blended ratios for non-occupant co-borrower
High Balance or Super Conforming
• Fixed/ARM
• Eligible for higher Fannie Mae/Freddie Mac loan limits in high-cost areas
• Avoid jumbo financing
Multiple Property
• Fixed/ARM
• For second home or investment property financing
• For borrowers with 7-10 financed properties
Fannie Mae HomeReady and Freddie Mac Home Possible
• CLTV up to 105%
• Fixed rate
• No minimum borrower contribution
• Max LTV up to 97%
• Both programs now limit borrower income to 80% of AMI
• HomeReady can combine with features from Fannie Mae HomeStyle Renovation program to finance renovations or extensive remodeling.
Freddie Mac HomeOne
• 97% LTV/105% TLTV/97% HTLTV
• Purchase or “no cash-out” refinance
• No geography or income limits
• For purchases, at least one borrower must be a first-time homebuyer
• When all borrowers are first-time homebuyers, at least one borrower must participate in homeownership education
• Primary residence only—all borrowers must occupy mortgaged premises