The latest news for Minnesota Housing home improvement lender partners
New Combined Loan to Value Requirement and Worksheet
Effective for loans processed after July 1, 2018, the Rehabilitation Loan Program (RLP) requires that the combined amounts of all loans secured by the subject property cannot exceed 110% of the property value at the time of loan closing. Please note that the 110% combined loan to value (CLTV) requirement does not apply to accessibility improvements and manufactured homes taxed as personal property.
We created a worksheet to help you calculate CLTV. Please complete this document for each loan file and submit with all other required documents.
Questions? Contact Tonya Taylor at 651.296.8844 or Annie Reierson at 651.296.3495.
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