Fannie Mae hub
Slide show
Six slides, one idea each. Swipe on a phone, tap Next and Back, or press the arrow keys.
Slide 1 of 6
Buys
Fannie Mae does not lend to buyers. It buys loans from lenders.
You apply with a lender, and the lender makes the loan. Fannie Mae may buy it afterward, which gives the lender money to lend again.
Slide 2 of 6
Conforming
Conforming means the loan fits the size limit and the rules.
The FHFA sets the size limit each year. A lender may call a loan conventional or conforming when Fannie Mae could buy it.
Slide 3 of 6
HomeReady
HomeReady is the name of Fannie Mae's affordable program.
Ask a lender whether it could apply to you and what it would change. We do not print its terms here.
Slide 4 of 6
PMI
A small down payment usually brings private mortgage insurance.
It is a cost you pay each month, and it can end later. FHA and VA loans use government backing instead.
Slide 5 of 6
Home
The home gets checked too.
The lender orders an appraisal. You book your own inspection. They are different checks and both are worth having.
Slide 6 of 6
Ask
Only a lender can tell you where you stand.
Take the quiz, bring the checklist, and ask a lender whether your loan could be sold to Fannie Mae.
Educational only. AskResi is not a lender.
