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Fannie Mae released the guidelines for conforming mortgages over $417,000 (called jumbo-conforming). The guidelines can be found here.
Highlights:
Full-documentation only
660+ credit score
Single unit homes only (no duplex, triplex, 4-unit)
45% maximum debt-to-income ratio
No cash-out refinancing
75% LTV maximum for refinances (70% for declining markets–most of Southern California)
90% LTV maximum for purchase - fixed rate (85% for declining markets–most [...]