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Updated almost 6 years ago on . Most recent reply
Super conforming mortgage insurance no longer available?
My lender @Chris Mason called me today to inform me of something incredible:
Apparently all the mortgage insurance providers he is aware of are suddenly no longer offering mortgage insurance for super conforming Home Possible loans.
- Who is currently offering mortgage insurance for super conforming Home Possible loans?
- Can anyone confirm this product is no longer being offered?
I am in the SF Bay Area and trying to get started by buying a 2-4 unit MDU using a 95% LTV super conforming mortgage (Home Possible). Can anyone suggest any other strategies to get a 5% or 10% down mortgage for such a property?
Most Popular Reply
As per section 4501.10 of the Freddie Mac "Single-Family Seller/Servicer Guide", the maximum LTV for super conforming mortgages has indeed changed to 85% / 80% for duplexes / 3-4 units, effective Feb 6th 2019.