Fannie Mae Jumbo-Conforming Guidelines Out

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 [...]