Freddie Mac Conforming and Super Conforming Programs

Bulletin 14-50 originally issued October 14, 2014 has been replaced with 15-24 to include updates regarding credit vendors.

Freddie Mac Program Overview

Highlights of the Freddie Mac program:

  • Purchase, rate/term and cash-out transactions eligible
  • Conforming and Super Conforming loan amounts
  • Minimum credit score 620
  • Maximum 50% DTI
  • Cash-out allowed on super conforming 2-4 unit primary residence, second home and investment transactions:
  • Primary residence 2-4 units cash-out to 65% LTV/CLTV
  • Second home cash-out to 65% LTV/CLTV
  • Investment property 1-4 units cash-out to 65% LTV/CLTV
  • Investment property super conforming 1-unit purchase to 80% LTV/CLTV and 75% LTV/CLTV for super conforming 1-unit rate/term transactions
  • Borrowers with previous bankruptcy eligible after 2 year waiting period
  • Borrowers with previous foreclosure eligible after 3 year waiting period
  • Appraisals must be ordered from the AMC assigned by HomeBridge based on region/territory

Brokers are not required to submit the LP Feedback Certificate; HomeBridge will run the loan through LP.

HomeBridge will re-issue credit reports when provided by a HomeBridge approved FHLMC credit vendor.

  • A list of approved vendors can be found within the Freddie Mac guidelines located on the Products and Guidelines section of the HomeBridge website.

Credit reports provided by an unapproved credit vendor will require HomeBridge to re-pull credit.

HomeBridge has created a Quick Reference Guide to compare the Fannie Mae and Freddie programs and posted it on the website under “Working With Us