Fannie Mae Selling Guide B5-6-01: HomeReady Mortgage Loan and Borrower Eligibility
This topic contains information on HomeReady mortgage loan and borrower eligibility, including:
Fannie Mae publishes the full text of this section: Fannie Mae Single Family Selling Guide on the Fannie Mae website. Zeitro Strata answers questions about it with the passage and page cited.
What this section covers
- Overview
- General Loan Eligibility
- Maximum LTV, CLTV, and HCLTV Ratios
- Requirements for HomeReady Transactions with LTV, CLTV, or HCLTV Ratios of 95.01 – 97%
- Subordinate Financing
- Eligible Loan Types
- Temporary Buydowns
- Borrower Income Limits and Calculations
- Homeownership Education and Housing Counseling
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.