Selling Guide

Published December 16, 2020

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What are the eligibility requirements for high-balance mortgage loans?

Loan Eligibility and Underwriting Requirements

High-balance mortgage loans must meet all standard Fannie Mae eligibility and underwriting requirements, as outlined in the Selling Guide, except as noted in this section. The following guidelines apply to all high-balance mortgage loans:

  • Loans must be conventional first-lien mortgages only.
  • Loans must meet the LTV, CLTV, and HCLTV ratios as outlined in the Eligibility Matrix.
  • All borrowers must have a credit score.
  • All loans must be underwritten through DU.

For additional eligibility information, see the Eligibility Matrix. For information about loan delivery, see B5-1-02, High-Balance Pricing, Mortgage Insurance, Special Feature Codes, and Delivery Limitations.

Note: Unless otherwise notified by Fannie Mae, existing variances in a Lender Contract apply to high-balance mortgage loans; however, the more restrictive of the eligibility requirements of this section or the lender’s variance will apply.

For additional information, see B5-1-01, High-Balance Mortgage Loan Eligibility and Underwriting.

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