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Get FannieMae Guide Underwriting DU 2014-2024

Wer must be a first-time home buyer when the LTV on a fixed-rate, purchase transaction secured by a one-unit principal residence exceeds 95%. DU will determine a borrower is a first-time home buyer when the borrower responds “No” to Declaration M on the online loan application. This requirement also applies when the CLTV exceeds 95% and the subordinate financing is not a Community Seconds loan, or when the HCLTV exceeds 95%. Limited cash-out refinance transactions When the LTV on a fixed-rat.

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