What's the max LTV for a fannie mae loan

95% or 5% down payment on a purchase. If you are doing a cash out re-finance, the max is 85%.

95%

95% LTV. However, there may be a local state Housing Finance Agency in Oregon like there is in Colorado that will allow you to go to 97% with no mortgage insurance.

Fannie Mae has move to making you have a 5% down payment. Depending on the area you live you might be able to get a no down payment loan with the USDA Rural program