Fannie Mae and Freddie Mac Extended ltv refis - add ons?
Debate in the office today... our rate sheet has us add in some circumstances 4.5% to add to the cost for the rate to do a fannie refi plus, but the sheet also notes: "add-ons not to exceed 1.75%"... does this mean no more than 1.75% in points and the rest must come in rate or we can't add on more than 1.75% total?
Let me know your thoughts.