: You cannot submit an offer without proof of funds or a mortgage pre-approval letter. Having this ready from a lender familiar with Fannie Mae's guidelines, like AmeriSave , can significantly speed up the process. The Step-by-Step Purchase Process
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: If you are a first-time buyer (meaning you haven't owned a home in three years), completing Fannie Mae's online HomeView education course can qualify you for up to 3% of the purchase price back in closing cost assistance. You must finish this course before submitting your offer. : You cannot submit an offer without proof
: This is a critical 30-day window where only owner-occupants and select non-profits can submit offers. By acting during this period, you avoid competition from real estate investors who must wait until the window expires to bid. : If you are a first-time buyer (meaning
: You cannot submit an offer yourself; you must work with a licensed real estate agent who is registered with Fannie Mae's online offer system.
You must move in within and live there for at least one year. Debt-to-Income (DTI) Generally must be 50% or lower .
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