Freddie Mac’s Relief Refinance

BENEFITS

• Maximum LTV of up to 105% with no maximum CLTV.

• No minimum credit score requirement if borrower’s principal and interest payment does not increase by more than 20%.

• Manually underwritten.

• Mortgage insurance is not required if existing loan does not have mortgage insurance.

• A Home Value Explorer (HVE) can be ordered in lieu of an appraisal.

• Loans with an LTV greater than 80% with an escrow waiver on the original loan may be eligible for an escrow waiver on the new loan.

FLEXIBLE TERMS

• 15- and 30-year fi xed-rate

• 5/1 adjustable-rate option

ELIGIBLE PROPERTY TYPES

• 1- to 4-unit properties

• Freddie Mac-eligible condominiums*

• Planned unit developments (PUDs)

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