HomeBridge is pleased to announce enhancements to the DU Refi Plus program.
• Primary residence transactions are now eligible as follows:
− 1-4 units up to 150% LTV (current guidelines only 1-unit at 125.01% to 150% LTV)
− Conforming and high balance loan amounts eligible up to 150% (currently conforming loan amounts only at 125.01% to 150% LTV.
• Second homes maximum LTV150% LTV (currently 125% LTV)
• Mortgage/rental history 0x30 in 12 months for all LTVs (currently 125.01% to 150% is 0x30 in 24 months)
The DU Refi Plus guidelines were also updated to require an escrow/impound account for all transactions, regardless of LTV.
These changes are effective with loans submitted on or after December 16, 2013. Loans currently in the pipeline are eligible to take advantage of the improved guidelines.
The DU Refi Plus guidelines have been updated with this information and posted on the HomeBridge website at www.homebridgewholesale.com.
If you have any questions, please contact your Account Executive.