Skip to main navigation


FM Platform Nav
  

        


Single-Family Business
      
      Homebuyers, Owners, and Renters

          
                        Single-Family
                
                Capital Markets
                                      Multifamily
          About Us
          
                        Careers
          
                        Contact Us
                                    Login
 FM Site Nav
  

        

Homepage
                    
      Fannie Mae logo
    Toggle navigation
      Originating & Underwriting
                      
            Pricing & Execution
                      
            Delivering
                      
            Servicing
                      
            Learning Center
                      
            Apps & Technology
                      
            News & EventsToggle search
 
 Home
                        Originating & Underwriting
                        Mortgage Products
                        HFAs & Public Entities
    Originating & Underwriting
HFAs & Public Entities
Working together to bridge the affordable housing gap
Together with our lender partners, Fannie Mae works closely with many Housing Finance Agencies providing products that deliver affordable options to low-to-moderate income borrowers.

**Serve more borrowers with HFA Preferred**

HFA PreferredTM is Fannie Mae’s low down payment conventional mortgage product that participating HFAs can use to serve low-to-moderate income borrowers exclusively through their lender partners.
HFA Preferred Lender video
  
  
      Fact Sheet


Area Median Lookup Tool


Help & Training


Interested in becoming an HFA Preferred Provider


Standardized Subordinate Documents

Additional Resources

97% LTV Options
	Affordable Housing Initiatives
	Area Median Income Lookup Tool Tips
	Community Seconds Checklist
	Down Payment and Closing Cost Assistance Fact Sheet
	Down Payment Assistance Tool
	Entering the Data for an HFA Preferred Loan in DO/DU
	HFA1 Affordable Homeownership Lender Toolkit
	HFA Preferred Incentive Program
	Working with Housing Finance Agencies

  

  Benefits
  Down payment assistance available through many HFAs
	Lender-funded grants permitted under certain circumstances
	No first-time homebuyer requirement
	Borrower income limits set by the HFA
	Cancellable mortgage insurance*
	Reduced mortgage insurance coverage for loans at or below 80% Area Median Income (AMI)

  

  Features
  



As Low as 3% Down Payment
  Low down payment, conventional mortgage with up to 97%/ 105% CLTV financing for home purchases.
                                Cancellable Mortgage Insurance*
  Borrowers may have the option to cancel their mortgage insurance once their home equity reaches 20%.  This can result in lower monthly payments down the road.  
* Restrictions apply
                                No First-time Homebuyer Requirement
  HFA Preferred is available to qualifying first-time or repeat homebuyers with low-to-moderate incomes.
                                Flexible Sources of Funds
  No minimum contribution requirement from borrower’s own funds (one-unit properties).

  

  Why choose HFA Preferred?

Benefits
			HFA Preferred Mortgage
			FHADown payment as low as 3%
			Yes
			NoCancellable mortgage insurance*
			Yes
			NoLender can order the appraisal immediately
			Yes
			NoNo geographic restrictions on loan amounts
			Yes
			NoDay 1 Certainty®freedom from certain representations and warranties
			Yes
			No*Restrictions Apply

For a detailed comparison click here.

Homeownership Education

To qualify for purchase loans with an LTV greater than 95%, homeownership education will be required for at least one borrower when all occupying borrowers are first-time homebuyers.   ​

Learn more about homeownership education.

Manufactured Housing

The lack of affordable housing supply makes manufactured homes a great solution. An HFA Preferred mortgage can be used to purchase a manufactured home helping your prospective homebuyers get the home they want at a price they can afford. Click here to learn more.




Have questions?
      Get answers to your policy and guide questions, straight from the source.
              




Get Started
  
  Work with Fannie Mae
  Customer Login
                                Password Reset
                                Not a customer? Get Started
                                Products & Solutions
  Mortgage Products & Options
                                Technology Apps & Solutions
                                Support & Resources
  Customer Service
                                News & Events
                                Learning Center
                                Guide Forms
                                Other Sites
  The Marketing Center
                                Fannie Mae's Consumer Website
                                Duty to Serve
                                HomePath
    
    
  

      
Social media
  

        
            Follow us
    Footer menu
  

        
            Suppliers
          Careers
          Contact Us
          Legal
          Privacy
                Cookie Preferences
            © 2024 Fannie Mae