A special Fannie Mae fixed rate program with improved pricing and lower PMI requirements.  There are two ways to qualify for the program: (1) borrower annual income does not exceed 100% of the area median income; OR (2) property is located in a census tract where the median tract income does not exceed 80% of the area median income. 

To view income limits for the area in which your property is located, click here.

Borrowers obtaining a purchase mortgage must complete a 4-hour online Homebuyer Education course. 

Program Guidelines

Primary Residence

Purchase
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 424,100 97 973
2-Unit 543,000 85 85
3-Unit 656,350 75 75
4-Unit 815,650 75 75
No Cash Out Refinance
Property Type Max Loan Amount Max LTV1 Max CLTV2
SFR/Condo 424,100 954 954
2-Unit 543,000 85 85
3-Unit 656,350 75 75
4-Unit 815,650 75 75

Notes:

(1) LTV refers to Loan-to-Value, the maximum percentage allowed when the mortgage amount is divided by the property value.

(2) CLTV refers to Combined Loan-to-Value, the maximum percentage allowed when all mortgages on the property (including home equity loans and lines of credit) are combined and that total is divided by the property value.

(3) CLTV up to 105% if the subordinate lien is a Community Seconds loan.

(4) LTV or CLTV up to 97% if the existing mortgage being refinanced is owned (or securitized) by Fannie Mae.

Risk-Based Add-Ons(Added to Points or Subtracted from Rebate, All Add-Ons are Cumulative)

FICO Score

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
95.01-97
740+ 0.000 0.000 0.000 0.000 0.125 0.375 0.500 1.000
720-739 0.000 0.000 0.000 0.000 0.125 0.625 0.875 1.250
700-719 0.000 0.000 0.000 0.000 0.125 0.750 0.875 1.250
680-699 0.000 0.000 0.000 0.000 0.125 0.750 0.875 1.750
660-679 0.000 0.000 0.000 0.000 0.750 1.250 1.750 2.125
640-659 0.000 0.000 0.000 0.000 1.250 1.750 2.000 2.375
620-639 0.000 0.000 0.000 0.000 1.750 2.000 2.250 2.750

No Escrow Account(For Payment of Taxes and Insurance)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
95.01-97
ALL 0.250 0.250 0.250 0.250 0.250 0.250 n/a n/a

Possible Additional Add-On – FICO Score(Max Total Additional Add-Ons of 1.500)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
95.01-97
680+ 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
660-679 0.000 1.000 1.500 1.500 1.500 1.500 1.500 1.500
640-659 0.500 1.250 1.500 1.500 1.500 1.500 1.500 1.500
620-639 0.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500

Possible Additional Add-On – Condo(Max Total Additional Add-Ons of 1.500)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
95.01-97
680+ 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
620-679 0.000 0.000 0.000 0.750 0.750 0.750 0.750 0.750

Possible Additional Add-On – 2 to 4 Units(Max Total Additional Add-Ons of 1.500)

FICO LTV
<= 60%
LTV
60.01-70
LTV
70.01-75
LTV
75.01-80
LTV
80.01-85
LTV
85.01-90
LTV
90.01-95
LTV
95.01-97
680+ 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
620-679 1.000 1.000 1.000 1.000 1.000 n/a n/a n/a

Our most popular program! Because 30 years is the longest term available, the monthly payments will be the lowest of any of the fixed rate programs.