United Wholesale Mortgage to offer Freddie Mac 97% LTV loans

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The new conventional 97 refinance rules will open up eligibility for many homeowners. There are two types of 97% LTV refinances, one offered from Fannie Mae, and one from Freddie Mac. That doesn’t mean you have to go to these two agencies directly for the loan. They don’t issue loans themselves.

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These are the conventional loan programs that United Mortgage Plus offers: Home Possible Advantage A great alternative to FHA financing for those looking to purchase with a low down payment or refinance with limited equity. Up to 97% LTV. First time homebuyers, move-up borrowers, and retirees

VA Loans Pros – Up to 100% loan coverage – No private mortgage. offer very similar programs suitable for anyone buying their first home. Home Possible® mortgages from Freddie Mac come in either.

United Wholesale Mortgage (UWM) reports that it is currently leading the market in offering Fannie Mae’s new HomeReady program, which allows qualified lower-income borrowers to purchase homes with as little as 3% down.. The company reports that it made the program available to its network of independent mortgage brokers as soon as the program launched on Dec. 12.

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Dec. 9: Mortgage jobs; what 97% LTV means for LOs and lenders. – As mortgage news daily noted, "Each will permit loans with as high as a 97 percent loan to value ratio with certain compensating factors. Both Fannie Mae and Freddie Mac’s loans must be secured by a single family owner occupied property. Only fixed-rate loans are eligible and manufactured housing is not acceptable collateral.

Angel Oak, for example, is offering a jumbo program for borrowers one day out of foreclosure, where short sales or bankruptcies are okay, mortgage lates are okay, and some programs will offer loans.

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home possible loan limits | Firsttimehomebuyerguidance –  · Conventional Loan Products – United Wholesale Mortgage – Home Possible A great alternative to FHA financing for borrowers looking to purchase with a low down payment or refinance with limited equity. Use the Freddie Mac Lookup Tool to see if a subject property meets the county loan.