Desktop Underwriter Job Aids


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Entering the Data for a HomeReady Loan

For ease of reference, we will generally use the term “DU” to refer to Desktop Originator® and Desktop Underwriter® (DO®/DU®).

This document shows you how to enter the data for a Fannie Mae HomeReady® loan. This document is not intended to provide detailed instructions for entering 1003 data in DU, but rather to explain the specific steps for entering the data needed for a Fannie Mae HomeReady® loan.

">Note:  For more information about HomeReady, see Mortgage Products on

The first step assumes that you have already logged in to DU and you are in the loan casefile you want to submit as a HomeReady loan.

  1. Click Income & Housing in the navigation bar.

  2. Select FNM Boarder Income, Non-Borrower Household Income, and/or Accessory Unit Income if applicable.

  3. Click Assets in the navigation bar.

  4. Select Cash on Hand if applicable.

  5. Click Details of Transaction in the navigation bar.

  6. Select Sweat Equity if applicable.

  7. Click Additional Data in the navigation bar.

  8. The Additional Data screen opens. Locate the Community Lending Information section.

  9. Take the following steps:

    1. Select HomeReady in the Community Lending Product field.

    2. If you are using a Community Seconds® mortgage, select Yes in the Community Seconds field. Otherwise, select No.

    3. If you are using a Community Seconds® mortgage, you must select the appropriate option from the Community Seconds Repayment Structure drop-down list.

    4. You can select the County, but it is no longer used to determine the income limit. The census tract is used to determine the income limit. If DU can't determine the census tract, then you can enter the FIPS Code (see next step).

  10. DU will determine the income eligibility requirements based on the census tract in which the property is located. If DU is unable to determine the census tract, you may provide the Federal Information Processing Standard (FIPS) code which is a unique code assigned to all geographic areas by the U.S. Census Bureau.

  11. When you have finished entering all the necessary data, click Submit.

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