Standard 97

• Fannie Mae 
  • Fannie Mae product
• Minimum FICO:  640
• 30 Year Fixed Conventional First Mortgage
• Zero Down Payment Required from Borrower
• Max Purchase price $499,000.00
• Max LTV of 97% 
• 1 unit single family properties only.
• Standard 97% requirement:
  • At least one borrower must be a first-time homebuyer
  • No homeownership counseling required
  • No income limit
  • Standard MI coverage
• 3.5% assistance (rounded to the next highest dollar – do not round down) of the lower of the purchase price or appraised value
  • Repayable DPA 2nd, 10-year term
  • DPA Interest rate is 2% higher than 1st mortgage rate
  • 0.5% of assistance can be used towards closing costs

Example Programs by Credit Score

(click program name for details)

580-850

FHA 100 Down

Good Neighbor Next Door

620-850

DPA Edge

640-850

Rate Advantage

HR 97

Standard 97

HFA Preferred Startup

HFA Preferred Stepup

HFA Advantage Startup

HFA Advantage Stepup

650-850

FHA Startup 650

FHA Stepup 650

660-850

Springboard FMHR

Springboard FM over95-97

Springboard FM under-95 LTV

FAHE FMHR

FAHE FM over95-97

FAHE FM under-95 LTV

DPA Edge DTI-over-50-percent

FHA Startup 660

FHA Stepup 660

680-850

HFA Preferred Risk Sharing

This is not an offer to enter into an agreement. Information, rates, & programs are subject to change without prior notice
and may not be available in all states. All products are subject to credit & property approval. DownPayment.cool and DownPayment.mobi is not affiliated with any government agency.