Prior to the July 29 Fannie Mae changes, adjustable-rate mortgages required lower loan-to-value, combined loan-to-value, and high combined loan-to-value than fixed-rate mortgages. These low LTV ratios make applying for ARMs less attractive and more difficult for Americans looking to borrow more or Read more
Fannie Mae’s LCOR, a 97% LTV Option for Refinancers
It’s not just in purchase loans where low downpayments and high LTVs are the norm. Refinance mortgages can allow up to 97% loan-to-value ratio or LTV such as Fannie Mae’s limited cash-out refinance. LCOR is among the GSE’s expanded 97% LTV options for qualified homebuyers and homeowners. How do you Read more
