Selling Guide

Published December 16, 2020

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What is the maximum LTV ratio when income from a non-occupant borrower, guarantor, or co-signer is used for a manually underwritten loan?

LTV Ratio Requirements for Manually Underwritten Loans

For manually underwritten loans, if the income of a guarantor, co-signer, or co-borrower is used for qualifying purposes, and that guarantor, co-signer, or co-borrower will not occupy the subject property, the maximum LTV, CLTV, and HCLTV ratio may not exceed 90% (unless a Community Seconds is part of the transaction, in which case the CLTV ratio may not exceed 105% or the maximum stated in the Eligibility Matrix for loans secured by manufactured housing).

For additional information, see B2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers on the Subject Transaction.

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