What Are Fannie Mae’s Eligibility Requirements For Delayed Financing?

What Are Fannie Mae’s Eligibility Requirements For Delayed Financing?

At minimum, you must have a median FICO ® Score of 620 or higher, among other qualifications. The minimum score for a Jumbo Smart loan from Rocket Mortgage ® is 680 or better.

You’ll get the best mortgage rates on conforming loans, or mortgages that are eligible for resale to Fannie Mae or Freddie Mac after origination. If you’re applying for a nonconforming loan, you won’t have to comply with these rules.

In order to qualify for a conforming mortgage through delayed financing, you must comply with their rules. Fannie Mae is the largest purchaser of mortgages by far, so you’ll most likely have to meet its requirements to be eligible for delayed financing. Let’s take a look at those: