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Fannie Interest_Only (IO) FICO > 720, LTV < 70


Fannie is also going to change criteria on interest-only mortgage loan products, capped at 70% loan-to-value ratio with the borrower FICO at 720 or higher. Balloon mortgages will no longer be eligible under the new guidelines.

Via Housingwire.

Posted by on May 1, 2010 10:27 PM |

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