Fannie Mae Selling Guide B5-6-02: HomeReady Mortgage Underwriting Methods and Requirements
This topic contains information about HomeReady mortgage loans, 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
- Underwriting Options
- Minimum Borrower Contribution for Purchase Transactions
- Non-Occupant Borrowers
- Rental Income from the Subject Property
- Boarder Income
- Cash-on-Hand
- Sweat Equity
- Minimum Reserve Requirements
- Multiple Financed Properties
- Borrowers with Low Credit Scores: Manual Underwriting Only
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.