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1)The limit will be effective as earlier as March 17th
(Some lenders).
2)GSEs will purcahse 30 yr fixed and 15 yr fixed April st.
Purchase 5/1ARM May 1st
3)Here are some guidelines:
a)No cash-out allowed.
b)Purchase CLTV 90% for 15 yr fixed and 30 yr fixed.
CLTV 80% for 5/1ARM.
c)For refi, LTV/CLTV is 75%/95%.
So 1st loan can only be 75%.
Minimum FICO 660.
d)For 2nd homes, CLTV 60%.
QQH me if you have more questions
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