FANNIE MAE UNVEILS NEW MORTGAGE PROGRAM FOR FIRST-TIME BUYERS


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Access to Mortgage Credit

Now offering a 3% down payment option for qualified borrowers, Fannie Mae is expanding access to mortgage credit

Fannie Mae has reinvigorated its commitment to responsibly help lenders extend affordable mortgage financing to qualified homebuyers. We offer an industry-leading combination of mortgage products, tools, and informative resources to grow sound business opportunities for lenders and sustainable homeownership opportunities for consumers.
Our priority is a safe, responsible balance between expanded access to mortgage financing and the long-term viability of today’s mortgage loans—limiting risk to lenders, investors, homeowners, and taxpayers.

Our goal is straightforward: to work with lenders to make mortgages more accessible, affordable, and sustainable.

Accessible: Helping creditworthy homebuyers qualify for a mortgage
Fannie Mae works with lenders to serve qualified homebuyers who may have difficulty getting approved for a home loan in today’s market. We offer the mortgage products, underwriting guidelines, and lender tools that help limit risk and increase confidence as lenders make approval decisions. We support homebuyers with resources to help them navigate the mortgage process.

Affordable: Limiting the up-front and monthly costs of mortgages
Fannie Mae has established product flexibilities allowing lower down payments and competitive monthly costs—addressing key financial barriers for many homebuyers. Low down payments are supported by other common-sense requirements, including income verification, debt-to-income maximums, a good credit history, and in many cases pre-purchase counseling.

Sustainable: Supporting the long-term success of homebuyers
Fannie Mae wants a homebuyer’s mortgage to be affordable on the day they buy their home and for the life of their loan. This is a key requirement for today’s affordable lending, achieved by verifying a homebuyer’s financial readiness, and offering products that fit their financial needs. Combined with tools that help lenders manage risk, Fannie Mae and the industry are able to serve a dynamic housing market.

Resources

Partnership in Action Video


About Brian Heafy

After a 30 year career in the information technology/professional services industry Brian began his second career as a real estate professional in 2012. Brian began his career in 1982 with the United States Marine Corps as a systems analyst providing software project management and implementation services to Marine Corps Aviation Logistics Squadrons in Iwakuni, Japan and later as a defense contractor assigned as lead technical program manager to the Navy Management Systems Support Office in San Diego. Brian went on to serve as technology manager for the City of Coral Springs, then joined a publicly traded government (ERP) software and professional services provider in Lake Mary, Florida as VP of the company's Public Safety & Justice Systems group where he and his teams supported over 450 small, medium and large Police, Fire, Courts and EMS agencies across the U.S. and Caribbean. Brian also served in technology management positions supporting commercial off the shelf software enterprise resource management systems finance and administration application software and public safety and justice systems application software projects for the City of Orlando and Orange County Clerk of Courts. Brian's in-depth understanding of governmental operations and contract management is a benefit to his real estate clients, so much of what gets accomplished in today's real estate industry deals with understanding government databases, brokerage disclosures, banking and governmental regulations each with their own set of established procedures - at all levels of government (local, county, state, federal). Brian holds a Bachelor’s degree in Business from Barry University. A Licensed Florida Real Estate Broker and member of the Greater Orlando Regional Realtors Association, member of the Marine Corps Association and former Web Sergeant for the United States Marine Corps League in Orlando, Florida. A native Floridian Brian and his wife Yoshiko have been married over 32 years and have two grown children.