Shared Equity Certification
If you operate a community land trust, below market rate program, or another program that uses income and resale price restrictions (deed restrictions) to create long-term affordability, certifying your program can help you offer your homebuyers more financing opportunities and save your lending partners time.
Fannie Mae's Shared Equity Program Platform allows you to quickly and easily show that you meet conventional financing requirements in as little as 10 minutes, expanding your customers' borrowing options.
How it works
Fannie Mae works with lenders to make financing more available to homebuyers purchasing from a shared equity program. In return, lenders confirm that programs they work with meet certain industry standards and program requirements. By answering a few simple questions, you can let lenders know that you meet those standards, opening up new opportunities for your homebuyers to finance their mortgage.
To complete the application you'll be asked to provide:
- Basic organizational information
- Contact information
- The legal document(s) (often a ground lease or deed restriction) that your program and homebuyers use to agree to resale and program restrictions in your shared equity homeownership program. You'll need to reference and upload these documents.
Once submitted, your application will be reviewed and you will be notified of the results. Assuming your program meets the necessary requirements, the program will be added to the Certified Shared Equity Programs List.