4203.4: Maximum LTV, TLTV and HTLTV ratios (11/05/18)

Owned by Marsha Freeman
Last updated: Nov 19, 2018
1 min read

© Freddie Mac Single-Family Seller Servicer Guide

The maximum loan-to-value (LTV)/total LTV (TLTV)/Home Equity Line of Credit (HELOC) TLTV (HTLTV) ratios for the following may differ from those ratios identified in this section and may be found in the Sections listed below:

  • Mortgages secured by a Manufactured Home – Section 5703.3(e)
  • Home Possible® Mortgages – Section 4501.10
  • Freddie Mac HomeOneSM Mortgages – Chapter 4605
  • Mortgages to Borrowers with a credit history that includes a previous Mortgage foreclosure, a conveyance of a deed-in-lieu of foreclosure, or a short sale – Section 5202.5(a)
  • Mortgages that use a Streamlined Project Review – Section 5701.4
  • Community Land Trust Mortgages – Section 4502.7
PURCHASE AND "NO CASH-OUT" REFINANCE MORTGAGES**
(Fixed-Rate and ARMs)

** See chart below titled "NO CASH-OUT" REFINANCES OF MORTGAGES CURRENTLY OWNED OR SECURITIZED BY FREDDIE MAC for LTV/TLTV/HTLTV ratios and other requirements for a "no cash-out" refinance of a Mortgage currently owned or securitized by Freddie Mac.
Property TypeMaximum LTV/TLTV/HTLTV ratio
1-unit Primary Residence95%
2-unit Primary Residence85%
3- and 4-unit Primary Residences80%
Second home90%
1-unit Investment Property85%
2- to 4-unit Investment Property75%


CASH-OUT REFINANCE MORTGAGES
(Fixed-Rate and ARMs)
Property TypeMaximum LTV/TLTV/HTLTV ratio
1-unit Primary Residence80%
2- to 4-unit Primary Residence75%
Second home75%
1-unit Investment Property75%
2- to 4-unit Investment Property70%


"NO CASH-OUT" REFINANCES OF MORTGAGES CURRENTLY OWNED OR SECURITIZED BY FREDDIE MAC*
(Fixed-Rate and ARMs)
* The LTV/TLTV/HTLTV ratios in this chart are only allowed with Mortgages originated in accordance with Section 4301.4(c).
Property TypeMaximum LTV/TLTV/HTLTV ratio
1- to 2-unit Primary Residence95%
3- to 4-unit Primary Residence80%
Second home95%
1-unit Investment Property85%
2- to 4-unit Investment Property75%

Note: The minimum Indicator Score requirements for Mortgages sold to Freddie Mac can be found in Exhibit 25, Mortgages with Risk Class and/or Minimum Indicator Score Requirements.