Desk top Underwriting (DU) is making a BIG adjustment on the LTV limits for 2-Unit homes (DUPLEX) effective Dec 12th, 2009.
2-Unit Primary Residence:
Purchases & Rate and Term refinances:
Old: 95% Loan to Value
NEW: 80% LTV
Cash out refinances:
old: 85%
NEW: 75%
2-Unit Investment Properties:
Purchases & RT refis:
Old: 85%
NEW: 75%
C/O refis:
old: 70%
NEW: Ineligible
Call me with any other questions on purchase
or refinance of multi unit, owner or non owner, properties.
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Friday, December 11, 2009
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