Fannie Mae’s conventional option for borrowers looking to purchase with a low down payment or refinance with limited equity. Designed for credit worthy, low to moderate income borrowers with expanded eligibility financing homes in designated low income, minority and disaster impacted communities.
- Purchases up to 97% including First Time Home Buyer (1 unit properties)
- Refinances up to 95% LTV, regardless of current mortgage program
- Reduced Mortgage Insurance
- Flexible source of funds for down payment (Gifts, Grants, and Cash)
- Relaxed AMI income limits based on census tracts
- Non Occupant Co Borrowers are Allowed (Max LTV 95%)
- Home Ownership Counseling is Required (On line course)