Selling Guide

Published December 4, 2019

B2-1.3-01: Fixed-Rate Loans (02/06/2019)

This topic contains general information on fixed-rate loans.

Fixed-Rate Loan Eligibility

Fannie Mae purchases or securitizes conventional, fully amortizing, fixed-rate first mortgage loans. The loan can be subject to a temporary interest rate buydown plan, provided that the subject property is secured by a principal residence or a second home property. (See B2-1.3-05, Temporary Interest Rate Buydowns.)

The payments must be structured as follows:

  • level monthly installments of principal and interest (P&I),

  • due on the first day of each month, and

  • payment of interest in arrears.

Related Announcements

The table below provides references to the Announcements that have been issued that are related to this topic.

Announcements Issue Date
Announcement SEL-2019-01 February 06, 2019
Announcement SEL-2013–06 August 20, 2013
Announcement 09-29 September 22, 2009