Selling Guide

Published April 07, 2021

For best results, pose your search like a question.

Guide Resources

For a comprehensive list of resources such as forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

Customers Recommend Ask Poli

AskPoli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Launch Ask Poli  

Download PDF Guide

You can also download the printable 1,200+ page PDF, which include links.

Download Now

What loan types are eligible under HomeReady?

Eligible Loan Types

HomeReady mortgage transactions can be secured by fixed-rate or ARM loans.

The following table identifies the ARM plans that are available for HomeReady mortgage loans by delivery method.

ARM Plans Eligible for HomeReady Mortgages
ARM Plans Eligible for MBS Delivery
30-year Five-Year ARMs 659, 660, 661, 3846, 4927
Seven-Year ARMs 750, 751, 4928
Ten-Year ARMs 1423, 1437, 4929
ARM Plans Eligible for Whole Loan Delivery
30–year Five-Year ARMs 4927
Seven-Year ARMs 4928
Ten-Year ARMs 4929

Temporary Buydowns

The following requirements apply to temporary interest rate buydowns on HomeReady mortgages:

  • Loans must be purchase transactions.
  • Loans must be fixed-rate or seven- or ten-year ARMs.
  • All other standard buydown policies apply.

See B2-1.4-04, Temporary Interest Rate Buydowns, for additional information.

For more information on HomeReady, refer to B5-6-01, HomeReady Mortgage Loan and Borrower Eligibility 

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.