Fannie Mae Announces 2017 HomeReady Income Limits

Fannie Mae issued a notice announcing the 2017 income limits for HomeReady loans. Desktop Underwriter (DU) will apply the 2017 limits to new DU loan casefiles created on or after July 8, 2017. With respect to manually underwritten loans, lenders must use the 2017 income limits for loans with application dates on or after August 1, 2017 (although lenders are encouraged to use the 2017 income limits immediately). The 2017 HomeReady income limits will be implemented in DU and published on Fannie Mae’s website July 8, 2017.

Click here to view the Fannie Mae Selling Notice