Fannie Mae Selling Guide B6-1-02 — Eligible FHA-Insured Mortgage Loans

Fannie Mae Selling Guide B6-1-02 — Eligible FHA-Insured Mortgage Loans

B6-1-02, Eligible FHA-Insured Mortgage Loans (08/05/2020) Introduction This topic contains information on eligible FHA-insured loans, including: Overview FHA Higher Balance Mortgage Loans FHA-Insured Adjustable-Rate Mortgages Other Fannie Mae Policies that Pertain to FHA Loans Overview Fannie Mae may purchase or securitize single-family loans that are insured by FHA under the following Sections of Title II of the National Housing Act: Section 203(b) Home Mortgages, Section 203(h) Home Mortgages for Disaster Victims, Section 203(k) Rehabilitation First Mortgages, Section 234 Condominium Units (individual mortgages only), and Section 251 Adjustable-Rate Mortgages. The above-listed FHA loans can only be delivered to Fannie Mae under a variance in the Lender Contract. The loans must comply with all applicable FHA laws and guidelines and the lender must obtain the required FHA mortgage insurance. Published May 6, 2026 824 Note: Each Section 203(k) mortgage loan delivered to Fannie Mae must be identified with SFC 089. FHA Higher Balance Mortgage Loans Lenders may deliver higher balance FHA loans to Fannie Mae for whole loan or MBS execution. Certain FHA higher balance loans must be delivered with SFC 798. Refer to Special Feature Codes on Fannie Mae's website for additional information about the use of this SFC. FHA-Insured Adjustable-Rate Mortgages Fannie Mae will purchase or securitize the following regularly amortizing FHA-insured ARMs that are tied to the appropriate Treasury securities index: 3/1 ARM Plan 3549, 1/1/5 cap; 5/1 ARM Plan 3550, 1/1/5 cap; 5/1 ARM Plan 3640, 2/2/6 cap; 7/1 ARM Plan 3551, 2/2/6 cap; and 10/1 ARM Plan 3552, 2/2/6 cap. Other Fannie Mae Policies that Pertain to FHA Loans Fannie Mae imposes the following additional policies for FHA loans: Fixed-rate FHA-insured loans that are subject to interest rate buydowns are eligible for delivery to Fannie Mae as long as the borrower is qualified at the note rate. FHA-insured loans that were previously included in a Ginnie Mae MBS pool but removed due to delinquency or other reasons are only eligible for sale to Fannie Mae on a negotiated basis. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Announcements Issue Date Announcement SEL-2020-04 August 05, 2020 Announcement SEL-2019-03 April 03, 2019 Published May 6, 2026 825

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