Tuesday, December 21, 2010 - Article by: Dan the loanman - ArcStone Financial Services -
97% LTV's are back!!
This is a great is a product for high quality borrowers with limited funds for down payment. If you have a loan above the FHA statutory loan limit you now have a high LTV option for a conventional loan.
97% LTV Conventional Loans
The max LTV on conforming loans is now 97%. There are no state restrictions on this product. All of the following criteria must be met:
o1 unit SFD (no condos)
opurchase or rate/term refinance
omaximum loan amount is $417,000
o720 minimum credit score
omax DTI is 41%
oborrower must contribute minimum of 3% of own funds
oappraisal review is required
Contact me for complete details and a no obligation mortgage consultation.
Dan "The Loanman"
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