This is interesting to search for the CLTV guidleines for FHA and if you find the FHA LTV for a second mortgage then stop and wonder about it. Is the FHA limit the highest or is the FHA CLTV limit higher with a second mortgage subordinating?
Subordinate a second mortgage with an FHA loan.
Run the FHA LTV calculation with a subordination agreement.
CLTV = 100% with or without the FHA subordinating second mortgage.
I am confused as to the FHA CLTV limitations with second mortgages.
Does FHA offer a subordination agreement class?