At least one lender is raising their maximum CLTV on the FHA streamline program.
From an email from the lender:
Non Credit Qualifying FHA Streamline Product Highlights
- No appraisal required – No AVM requirements
- 600 minimum FICO – conforming and high balance loan amounts
- Max LTV/CLTV of 125%
- No income documentation required
- Mortgage history – no late payments in the last 12 months
- Reduced documentation compared to standard FHA loans
- Must have a current FHA loan to be eligible
- Credit qualifying loan programs available, check our website for details
- $499 Lender Fees
When thinking about the FHA streamline program, it can pay big dividends to shop multiple lenders – you might be surprised at how different each lender’s requirements can be. For example – this particular lender will go down to a 600 minimum credit score – many other lenders are at a 640 minimum credit score. Submit your information below and get matched with a great lender who can help you get qualified for the FHA streamline refinance today.