© 2010 Fannie Mae. Trademarks of Fannie Mae 1 of 12 September
22, 2009 Rev. October 29, 2009 and January 14, 2010 This document is
incorporated by reference into the Fannie Mae Selling
Guide. ELIGIBILITY
MATRIX

The Eligibility Matrix provides the comprehensive
loan-to-value ratios (loan-to-value [LTV], combined loan-to-value [CLTV], and
home equity combined loan-to-value [HCLTV]) and minimum credit scores (if
applicable) for conventional first mortgages eligible for delivery to Fannie
Mae. Other eligibility criteria and underwriting policies that are not covered
in the Eligibility Matrix may be required for mortgage loans to be eligible for
delivery to Fannie Mae; see the Selling
Guide for details.

Table of Contents

Standard Eligibility Requirements.....................................................................................................2

Special Mortgage Products.................................................................................................................4

Refi Plus™.............................................................................................................................................5

High-Balance Mortgage Loans...........................................................................................................6

Desktop Underwriter® (DU®)................................................................................................................8

Desktop Underwriter Expanded Approval®
(EA) Eligibility......................................................12
© 2010 Fannie Mae.
Trademarks of Fannie Mae 2 of 12 September 22, 2009 Rev. October 29, 2009 and
January 14, 2010 This document is incorporated by reference into the Fannie Mae Selling
Guide.

LIGIBILITY MATRIX Standard Eligibility Requirements Maximum Allowable LTV Ratios and Minimum Credit Scores Manual Underwriting, Fully Amortizing Loans (Excludes MyCommunityMortgage®, HomeStyle® Renovation, Refi Plus™, High-Balance Mortgages)
Transaction Type1,2	Number of Units			Maximum LTV/CLTV3/HCLTV		Minimum Credit Score4
Principal Residence
Purchase Limited Cash-Out Refinance (LCOR)	1 Unit No Co-ops			95/95/95%		660 if > 75% 620 if ≤ 75%
	1 Unit Co-op5	Purchase: 95%/NA/NA			660 if > 75% 620 if ≤ 75%
		LCOR: 90%/NA/NA
	2 Units	80/80/80%			660 if > 75% 640 if ≤ 75%
	3 - 4 Units	75/75/75%			660
Cash-Out Refinance	1 Unit No Co-ops			85/85/85%		680 if > 75% 620 if ≤ 75%
	1 Unit Co-op5	85%/NA/NA			680 if > 75% 620 if ≤ 75%
	2 Units	75/75/75%			680
	3 - 4 Units	75/75/75%			680
Second Home6
Purchase Limited Cash-Out Refinance	1 Unit No Co-ops			90/90/90%		680 if > 75% 620 if ≤ 75%
	1 Unit Co-op5	Purchase: 90%/NA/NA			680 if > 75% 620 if ≤ 75%
		LCOR: 75%/NA/NA
Cash-Out Refinance	1 Unit No Co-ops			75/75/75%		680
Investment Property6,7
Purchase	1 Unit			85/85/85%		680 if > 75% 620 if ≤ 75%
	2 Units	75/75/75%			660
	3 - 4 Units	75/75/75%			660
Limited Cash-Out Refinance	1 Unit			75/75/75%		640
	2 Units	75/75/75%			680
	3 - 4 Units	75/75/75%			680
Cash-Out Refinance	1 Unit			75/75/75%		700