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10721 Jackson Lane, Frisco TX 75035

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Fannie 3/2

A Community Lending Flexible Option

The Fannie 3/2 option is available for a 95 percent LTV loan. It combines a 3 percent down payment from the borrower's own funds with the remaining 2 percent from a gift, grant, unsecured loan, or Community Seconds® loan.

The Fannie 3/2® fixed-rate mortgage with terms between 15 and 30 years requires only a 5 percent down payment, with just 3 percent from your own funds, which means less cash is needed up front to buy a home. To qualify for this loan, you must earn no more than the area median income (exceptions are made in specified high-cost areas).

Key Features

  • Three percent of the down payment funds must come from your own sources, while the other 2 percent can come from a federal, state, or local government agency; nonprofit organization; employer; or private foundation.
  • This mortgage provides expanded debt-to-income ratios, which means you may use up to 33 percent of your gross monthly income for housing expenses each month (instead of the standard 28 percent) and 38 percent for your total monthly debt expenses (instead of the standard 36 percent).
  • Home buyer education is required (it may be offered by your lender or your lender may be able to recommend a resource).
  • This mortgage can be used with Community Seconds®, Community Land Trust, and Lease-Purchase options.

Consumer Benefits

  • Take advantage of down payment assistance funding with this flexible option.


2006 Conforming Loan Limits

Number of
Maximum original
principal balance
Alaska, Guam, Hawaii,
and U.S. Virgin Islands only
1 $417,000 $625,500
2 $533,850 $800,775
3 $645,300 $967,950
4 $801,950 $1,202,925



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10721 Jackson Lane, Frisco TX 75035

214-387-0683EMAIL: info@brown-lending.com


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