What are the underwriting, credit score, and DTI guidelines for Freddie Mac HFA Advantage?

Freddie Mac HFA Advantage

LP finding of Accept/Eligible and meet all other guidelines listed in this Program Summary. (Offering Identifier: HFA Advantage (LPA v5.0.06 or higher Home Possible Advantage for HFA’s (LPA Legacy) or Using the code 251.)

Property TypeMaximum
LTV
Maximum
TLTV/CLTV
Maximum
DTI
Minimum
FICO
Required
Reserves
1 Unit
Condos/Townhomes
97%105%45%640As determined
by LP
1 Unit
Condos/Townhomes
97%10545.01-50%680As determined
by LP

MANUAL UNDERWRITING GUIDELINES – Loans may be manually underwritten for erroneous, inaccurate, or insufficient credit.

  • For Freddie Mac HFA Advantage at least one borrower must have a usable credit score, meet the minimum FICO score requirements, and adhere to Freddie Mac guidelines for HFA Advantage.
  • If the HFA, GSE, or MI require more in reserves as listed in LTV / DTI / FICO tables below; the greater number of months must be documented.
Property TypeMaximum
LTV
Maximum
TLTV/CLTV
Maximum
DTI
Minimum
FICO
Minimum
Required
Reserves
1 Unit
Condos/Townhomes
97%105%45%6602

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