Fannie Mae 97% LTV

With the release of DU Version 9.2 during the weekend of December 13, 2014 Fannie Mae re-introduced 97% LTV subject to the following.

 97% LTV First Time Homebuyer

The maximum LTV for first time home buyers is being expanded to 97% for purchase transactions subject to the following:

  • Property is a 1-unit primary residence
  • At least one borrower is a first time home buyer who will occupy the subject property (defined as a borrower who has not had an ownership interest, sole or joint, in a residential property in the previous 3 years)
  • Fixed rate only (15, 20, and 30 year terms)
  • DU “Approve/Eligible