Selling Guide

Published June 3, 2020

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

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B2-1.4-01, Fixed-Rate Loans (02/06/2019)


This topic contains general information on fixed-rate loans.

Fixed-Rate Loan Eligibility

Fannie Mae purchases or securitizes conventional, fully amortizing, fixed-rate first mortgage loans. The loan can be subject to a temporary interest rate buydown plan, provided that the subject property is secured by a principal residence or a second home property. (See B2-1.4-05, Temporary Interest Rate Buydowns.)

The payments must be structured as follows:

  • level monthly installments of principal and interest (P&I),

  • due on the first day of each month, and

  • payment of interest in arrears.

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