Fannie Mae Loan Guidelines Memory Tricks

These tricks are designed to help users quickly recall important figures related to loan qualification, such as the minimum acceptable FICO credit score of 620 and the absolute maximum debt-to-income (DTI) ratio of fifty percent. The guide outlines requirements for down payments, noting that first-time buyers must provide a minimum of three percent for a Fannie Mae conforming loan. Additionally, it clarifies Private Mortgage Insurance (PMI) regulations, specifying that the coverage is automatically cancelled when the loan-to-value (LTV) ratio reaches seventy-eight percent. Finally, the resource provides an easy way to remember the varying limits on seller contributions based on the LTV, utilizing the simple 3-6-9 Dance Line trick.

Видео Fannie Mae Loan Guidelines Memory Tricks канала Marvin Horn Real Estate