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Home » Blog » First Time Home Buyer » Fannie Mae’s New Rules!

Fannie Mae’s New Rules!

March 16, 2021
Timothy Chase
Credit, First Time Home Buyer, Mortgage News

Fannie Mae just changed the rules again. Do you still qualify?

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Timothy Chase

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What are your goals?
- I want to buy a home
- I want to refinance

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City or Zip Code*

What type of home is it?
- Single Family
- Townhouse
- Condominium
- Multi-Family

Where are you in the home buying process?
- Signed a purchase contract
- Found a home
- Looking to buy within one month
- Looking to buy in 1 to 3 months
- Looking to buy in more than 3 months

How do you plan to use your new home?
- Primary Residence
- Vacation Property
- Investment Property

Have you or your spouse served in the US military?
Veterans and active US military may be eligible for a $0 down VA loan when purchasing a home.
- Yes
- No

What is your (or your spouse's) branch of military service?
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- No Military Experience

Are you actively working with a real estate agent?
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- No

Is this your first time purchasing a home?
- Yes
- No

What is the approximate purchase price of the new property?
(it's OK to estimate)
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Use the slider to select the price range of homes you're interested in (it's OK to estimate)

How much do you have for a down payment?
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(It's OK to estimate)

What is the interest rate of your first mortgage?
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Do you have a second mortgage?
- Yes
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How much additional cash do you wish to borrow?
(It's OK to estimate or if no cash-out leave at $0)

What is your current employment status?
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What is your household gross (before taxes) annual income?
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- $50,000 - $75,000
- $75,000 - $100,000
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What is your credit score?
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- Good 700-739
- Average 660-699
- Fair 600-659
- Poor < 600

Have you had a bankruptcy or foreclosure in the past 3 years?
- Yes
- No

What is your first name?*
What is your last name?*

What is your email address?*
What is your phone number?*

previous post: What to Do When Your Purchase Offer in Colorado Springs Isn’t Accepted
next post: Are Foreclosures coming?

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