Tuesday, August 25, 2015

News Release - Fannie Mae Announces Improved Affordable Lending Product | Fannie Mae

News Release - Fannie Mae Announces Improved Affordable Lending Product | Fannie Mae



Flexible sources of funds can be used for

the down payment and closing costs with no

minimum contribution required from the

borrower’s own funds (1-unit properties).

• Conventional home financing with

cancellable monthly MI (per Servicing

Guide policy); reduced MI coverage

requirement above 90% LTV supports

competitive borrower payment.

• Homeownership education helps buyers

get ready to buy a home and be prepared for

the responsibilities of homeownership. The

required training offers an easy-to-use, online

course provided by Framework.