Effective for all FHA case #'s
pulled today (11/16/2009) going forward for Streamline refinances,
if subordinate financing is in place the max combined CLTV can go up
to 125%!
• For streamline refinance
transactions WITHOUT an appraisal,
the CLTV is based on the original appraised value of the property.
• For streamline refinance transactions WITH an appraisal,
the CLTV is based on the new appraised value.
Happy Selling!
Justin Perry
Sr. Underwriter
Gateway Mortgage Group
1255 W. 15th Street| Ste. 540|
972-908-3390 ext. 125| 918-392-8349 eFax
11/16/2009
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