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If there is a non-occupant borrower on the transaction: Manually underwritten loans: LTV/CLTV/HCLTV ratio 90%* DU loan casefiles: LTV/CLTV/HCLTV ratio 95% Both: CLTV ratio
In September 2008, the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
Visit our Loan Lookup Tool to learn whether Fannie Mae owns the mortgage on your home. Homeowners with a Fannie Mae-owned mortgage can seek help for their COVID-19 related financial hardship.
For manually underwritten loans, Fannie Maes maximum total DTI ratio is 36% of the borrowers stable monthly income. The maximum can be exceeded up to 45% if the borrower meets the credit score and reserve requirements reflected in the Eligibility Matrix.
There are no income limits for the conventional 97% standard option; so high-earning first-time homebuyers may qualify.
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Conventional 97 loan: 97% LTV. Fannie Mae HomeReady: 97% LTV. Freddie Mac Home Possible: 97% LTV. FHA loan: 96.5% LTV.
Since 2008, both Fannie Mae and Freddie Mac have operated under the conservatorship of the Federal Housing Finance Agency (FHFA). Though both are currently under a conservatorship of the same agency, the two entities are separate from one another, each with its own shareholders and leadership.
In support of ongoing efforts to expand access to credit and support sustain- able homeownership, Fannie Mae offers 97 percent loan-to-value (LTV) financing to help homebuyers who would otherwise qualify for a mortgage but may not have the resources for a larger down payment.

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