Fannie Mae Guidelines

What is Fannie Mae?

Fannie Mae is a private company that operates under a congressional charter to increase the availability and affordability of homeownership for low-, moderate-, and middle-income Americans.

Fannie Mae does not lend money directly to home buyers. Instead, they work with lenders to make sure that the lenders don't run out of mortgage funds, which allows more people to achieve the dream of homeownership.

Let us help you get a Fannie Mae mortgage. Click here to begin the process. There are no costs, no obligations and no hassles.

2004 Single-Family Fannie Mae Guidelines -- Mortgage Loan Limits

First mortgages qualifying for Fannie Mae Mortgage under the guidelines

One-family mortgage: $333,700
Two-family mortgage: $427,150
Three-family mortgage: $516,300
Four-family mortgage: $641,650

Note: One- to four-family mortgages in Alaska, Hawaii, the U.S. Virgin Islands, and Guam are 50 percent higher than the limits for the rest of the country.

Second mortgages qualifying for Fannie Mae Mortgage under the guidelines

$166,850

* In Alaska, Hawaii, Guam, and the U.S. Virgin Islands: $250,275

History of Fannie Mae

In 1938, the Federal government established Fannie Mae to expand the flow of mortgage money by creating a secondary market. Fannie Mae was authorized to buy Federal Housing Administration (FHA)-insured mortgages, thereby replenishing the supply of lendable money.

In 1968, Fannie Mae became a private company operating with private capital on a self-sustaining basis. Its role was expanded to buy mortgages beyond traditional government loan limits, reaching out to a broader cross-section of Americans.

Fannie Mae Foundation

The Fannie Mae Foundation creates affordable homeownership and housing opportunities through innovative partnerships and initiatives that build healthy, vibrant communities across the United States. The Foundation is specially committed to improving the quality of life for the people of its hometown, Washington, D.C., and to enhancing the livability of the city's neighborhoods. Click here to learn more.

Get Started with a Fannie Mae Mortgage Now

Interested in a Fannie Mae Mortgage? Let us help you get a Fannie Mae mortgage. Click here to begin the process. There are no costs, no obligations and no hassles.