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FANNIE MAE LOANS
FANNIE MAE LOANS
A Fannie Mae loan is a conventional mortgage designed for homebuyers and investors. It offers flexible terms and competitive rates, with qualification based on credit score and property value. These loans provide low down payment options, making them ideal for first-time buyers and those looking to refinance. Borrowers can finance primary residences, second homes, and investment properties with no income restrictions, making Fannie Mae loans a versatile choice for many.
Fannie Mae Loan Program Explained
Fannie Mae loans provide long-term, affordable financing options for homebuyers and investors. These conventional loans are designed to help borrowers purchase, refinance, or renovate properties with flexible terms and competitive rates, making them a popular choice for a wide range of real estate needs.
Main Features of Our Fannie Mae Loans
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Long-term duration: Choose from a variety of fixed-rate terms, including 10, 15, 20, 25, or 30 years, allowing for predictable payments over time.
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Flexible LTV options: Borrow up to 97% of the property’s value for purchases, offering lower down payment options for qualified borrowers.
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Streamlined process: With automated underwriting through Desktop Underwriter (DU), we ensure efficient approvals and a smooth closing process.
Why Choose Our Fannie Mae Loans?
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Affordable Homeownership: Low down payment options and competitive interest rates make Fannie Mae loans accessible for first-time homebuyers and those looking to refinance.
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Diverse Property Types: These loans are available for a variety of properties, including single-family homes, 2-4 unit properties, condos, and manufactured homes, giving borrowers more flexibility.
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Investment Potential: With financing options available for second homes and investment properties, Fannie Mae loans offer opportunities to grow your real estate portfolio.
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Predictable Payments: Fixed-rate terms ensure stable monthly payments, helping borrowers manage their finances with confidence.
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High LTV Financing: Borrowers can take advantage of high loan-to-value ratios, especially for primary residences, to minimize upfront costs.
Our Fannie Mae loans are ideal for homebuyers and investors seeking affordable, long-term financing with flexible terms. Whether you’re purchasing a home or growing your investment portfolio, these loans provide the stability and options needed for successful real estate transactions.
Qualification Criteria
Determine if You Qualifies for Fannie Mae Loans
Credit Score
Minimum 620 FICO score required for all qualifying borrowers. No significant derogatory credit within the past 24 months.
Property Type
Eligible properties include 1-4 unit primary residences, second homes, and investment properties. Manufactured homes (multi-width) and eligible condominiums are allowed.
Loan Term
Fixed-rate terms of 10, 15, 20, 25, or 30 years for fully amortizing loans. High Balance loans are available with 15 or 30-year fixed-rate terms.
Prepayment Penalty
No prepayment penalties, offering flexibility for early loan repayment
Maximum Loan-to-Value (LTV)
Up to 97% LTV for primary residences on purchases. 80% LTV for cash-out refinances.
​Liquidity Requirements
Borrowers must provide funds for down payment, closing costs, and reserves, as required by DU findings.
Loan Amount
Loan limits are based on Fannie Mae conforming and high-balance loan limits, varying by location. Maximum loan amounts can exceed $1,000,000 for high-cost areas.
Location Requirements
Eligible in most U.S. locations, including urban, suburban, and certain rural areas, with restrictions on investment properties in rural regions.