Monday, December 8, 2008

More on Fannie and Freddie; FHA streamline tip

What is happening today in mortgage lending:
Modifying the Mortgage Giants

Tips on FHA Streamline Loans
What is the LTV/CLTV limit on a Streamline Loan? A Streamline loan without an appraisal has no LTV limit. Your max calculation is based on the previous loan amount + new upfront mip (see my link in the FHA menu for Streamline loan without an appraisal worksheet link). A streamline loan with an appraisal at the begging of the year can not exceed the LTV of 100% with MIP. There is not CLTV limit in regards to either a streamline loan with an appraisal and without.
Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com

1 comment:

Patrick said...

It is just so tempting to abandon the real estate business (at least temporarily) right now. However I’ll look into your ideas. Thanks

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