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Friday, December 11, 2009

DU making LTV adjustments for Duplex's

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.