Fannie Mae's Minimum Credit Score Required for Cash Out Products is a 620 Middle Score or Decision Score. Decision Score is the Middle of Three Scores or the Lower of Two Scores.
Fannie Mae's Maximum Loan To Value if Multi Unit Cash Out is 75%. if Owner Occupied, Max 70% LTV if Investment. Maximum 75% if Primary Residence is a Stick Built Multi Unit Property. Example. If Property Appraised for 100K, Cash Out Max is 75K. Seventy Five Percent of Appraised Value equals 75% Loan to Value.
Fannie Mae allows Cash Out if Multi Unit Primary Residence, or Investment Property.
Fannie Mae allows Cash Out for One to Four Unit Properties. Loan to Value Reduced and Impacted if Multi Unit Primary Residence or Investment.
Self Employed Borrowers are Accepted with No Additional Restrictions or Requirements. Standard Self Employment Income Documentation Requirements can include Two Years of Complete Tax Returns including all Schedules.
Fannie Mae has No Cash Out Maximums or Limits. Maximum Loan Limits by County Apply.
Cash Out For Any Purpose
Protecting The Cash Out Refinance Borrower
If You Need Help Understanding Multi Unit Property Cash Out Qualification Requirements.
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