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To qualify for purchase loans with an LTV greater than 95%, homeownership education will be required for at least one borrower, when all occupying borrowers are first-time homebuyers. Fannie Mae HomeView® can be used to satisfy this requirement. Learn more about homeownership education.
- 97% LTV Options
Our 97% Loan-to-Value (LTV) financing options help lenders...
- FAQs
NOTE: This table summarizes the differences between the...
- Homebuyer Resources
First-time homebuyer course. Learn more about the homebuying...
- HomeView Homebuyer Education
Our HomeView certificate course aligns with National...
- 97% LTV Options
With $5,000 down payment or closing cost assistance and free homeownership education, HomeReady® First lowers barriers for creditworthy first-time homebuyers. Borrowers may also receive additional benefits such as a title insurance credit, appraisal reimbursement and one-year home warranty reimbursement.
First-time homebuyer course. Learn more about the homebuying process with HomeView®, Fannie Mae’s online course for first-time buyers, which fulfills the education requirement for most mortgage products.
10 Ιουλ 2024 · Requirements. Benefits. Programs. FAQ. What is a first-time home buyer? A first-time home buyer hasn’t owned a primary residence in the last three years. Moreover, first-time home buyers are...
Our HomeView certificate course aligns with National Industry Standards for pre-purchase homeownership education, so it fulfills education requirements for most mortgage products. After finishing and passing the end of course quiz (score of 80% or higher), you’ll receive a certificate of completion to share with your lender.
Fannie Mae HomeView® makes it simple to meet the requirement For HomeReady purchase transactions, if all occupying borrowers are first-time homebuyers, then at least one borrower must complete a homeownership education course offered by a qualified provider*,
28 Μαρ 2024 · Credit score: First-time home buyers must have a minimum credit score of 580 for an FHA loan or 620 for a conventional loan. Debt-to-income ratio (DTI): Your debt-to-income ratio (DTI) considers what percentage of your monthly income goes toward debt payments. Most lenders look for a DTI ratio below 50%, depending on your loan and other factors.