This program is ideal for homebuyers who don’t have the funds to cover the cash required at closing or for those who have the cash but need it for expenses such as home improvements, an emergency fund or education. The benefits include flexible funding and over 100% financing. All buyers must complete Fannie Mae Buyers Education Classes for ALL to qualify.
Designed for Home Buyers:
Home Buyers with good credit but not enough funds to cover entire cash-to-close.
Home Buyers with good credit who have funds for cash-to-close, but would rather keep some of it for emergency fund, improvements, repairs, furniture, etc.
Fannie Mae Buyers Education Classes is required for ALL
700 minimum FICO
Purchase of primary residence only
Up to 100% financing
3% Max Seller Contributions
Loan amounts up to $674,250 for Conforming Program