Fannie Mae updated the area median incomes used to determine a borrower’s eligibility for HomeReady mortgage loans. The 2016 HomeReady income limits will be available on or after the weekend of July 16, 2016. At that time, the updated limits will be implemented in Desktop Underwriter and published on Fannie Mae’s website for use with manually underwritten loans.
Fannie Mae
Fannie Mae Updates Area Median Incomes used to Determine Borrower Eligibility for HomeReady, RefiNow and Duty to Serve Loans
Fannie Mae updated the area median incomes (AMIs) used to determine a borrower’s eligibility for HomeReady, RefiNow, and Duty to Serve loans. The 2024 AMIs