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Fannie Mae Conforming & High Balance Guidelines Update

The following changes were made to the guidelines: 

  • Increased the LTV for ARMS on FNMA Regular products, page 1
  • Changed 2-unit ARM for Purchase/Rate and term (primary) to 85%
  • Changed 2nd Home ARM for Purchase/Rate and Term to 90%
  • Removed the restriction of minimum square footage of 400, page 3
  • Added guidelines for FL new condo projects, page 3
  • Removed requirements for the field review with values over $1 million and LTV over 75% for all FNMA Products, page 12
  • Updated MI changes when LTV > 80%, page 16