Non-Conforming Conventional LTV Matrix
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1 Non-Conforming Conventional Matrix 950 Non-Conforming Conventional Matrix PRIMARY RESIDENCE - PURCHASE AND RATE/TERM REFINANCE The /C matrix below is allowed with the following products: $750,000 $750,000 $1,000,000 $1,000,000 $1,500,000 $1,500,000 $2,000,000 Detached/Attach ed, PUD, Co-op 1 C C Not Not, or X Not X Not X Not Fixed rate ARMs 10X See Section (b) for geographic restrictions on Co-ops. 2. /C 75% not allowed with 5/1 ARM. 3. MHPs (Median Home Prices) are published on WFF s Value Based Median Home Price ification List (Exhibit 4). Apply the maximum MHP ratios when the aggregate loan amount exceeds ten (10) times the subject property s county-level MHP. 4. Max /C is lesser of 10x MHP or /C based on. July 21, 2014 Page 950-1
2 Non-Conforming Conventional Matrices 950 The reserve requirement below provides the minimum liquid 1 PITI reserve requirement based on combined Loan amount. Primary Residence Purchase and Rate/Term $2,000, mos. PITI on subject property $2,000,001 to $4,000, mos. PITI on subject property 36 mos. PITI on subject property PRIMARY RESIDENCE CASH-OUT REFINANCE 1 The /C matrix below is allowed with the following products: $750,000 $750,000 $1,500,000 $1,500,000 $2,000,000 Not Detached/Attached, PUD, Co-op 2 C C Not Not Maximum amount of cash out is $500, See Section (b) for geographic restrictions on Co-ops. 720 Page July 21, 2014
3 Non-Conforming Conventional Matrix 950 Primary Residence Cash-Out $2,000, mos. PITI on subject property $2,000,001 to $4,000, mos. PITI on subject property 36 mos. PITI on subject property July 21, 2014 Page 950-3
4 Non-Conforming Conventional Matrices 950 Second Home - PURCHASE AND RATE/TERM REFINANCE The /C matrix below is allowed with the following products: $650,000 $650,000 $1,000,000 $1,000,000 $1,500,000 $1,500,000 $2,000,000 Detached/Attached, PUD, Co-op 1 C C Not Not Not Not Fixed rate ARMs 1. See Section (b) for geographic restrictions on Co-ops. 2. Max /C is lesser of 10x MHP (Median Home Price) or /C based on ification (Exhibit 20). See Median Home Price ification list (Exhibit 4) Page July 21, 2014
5 Non-Conforming Conventional Matrix 950 Second Home Purchase and Rate/Term $1,000, mos. PITI on subject property $1,000,001 to $2,000, mos. PITI on subject property $2,000,001 to $4,000, mos. PITI on subject property 48 mos. PITI on subject property July 21, 2014 Page 950-5
Attached Condo with Loan Score < Unit 3- to 4-Unit. Max. CLTV Max. LTV Max. CLTV Max. LTV Max. CLTV
Conventional Eligible Loan Products Primary Residence Purchase and Rate/Term Refinance The /C matrix below is allowed with the following products: Loan Amount/ Combined Loan $750,000 2 >$750,000 $1,000,000
Attached Condo with Loan Score < Unit 3- to 4-Unit. Max. CLTV n/a n/a 1. Max. LTV Max. CLTV Max. LTV Max. CLTV
Conventional Eligible Loan Products Primary Residence Purchase and Rate/Term Refinance The /C matrix below is allowed with the following products: Fixed rate (15- to 30-year) Loan Amount/ Combined Loan
Platinum Non-Conforming Conventional LTV Matrix
Primary Residence Purchase and Rate/Term Refinance Fixed rate (15- to 30-year) Loan Amount/ Combined Loan >$424,100- $750,000 2 >$750,000 $1,000,000 >$1,000,000 $1,500,000 Single Family Detached/ Attached,
Fixed Rate = Note Rate 5/1 ARM = start rate plus 2% 7/1 and 10/1 ARM = The greater of the start rate or the fully indexed rate Debt Ratio
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