Buyer Qualification Guidelines
Detailed requirements for the Fannie Mae One-Time Close Construction Loan.
Skip the bidding wars. Build your future.
Stop compromising on someone else's floor plan. With a true one-time close construction loan, you get one loan, one plan, and one team guiding you from the moment you pick your lot to the day you turn the key. Build smarter, not harder. This is where land becomes home.
Credit & LTV Matrix
| FICO Score | Max DTI (Debt to Income) | Max LTV (Loan to Value) |
|---|---|---|
| 680 - 699 | 43% | 80% |
| 700 - 719 | 45% | 90% |
| 720 and above | 45% | 95% |
Escrow Account Requirements
FICO 680 - 699
• 12 months insurance
• 6 months property taxes
FICO 700+
• 3 months insurance
• 3 months property taxes
Eligible Property Types
- 1 Unit Stick Built Housing
- Modular Homes (Agency compliant)
- Manufactured Homes (QM compliant)
- Land owned or purchased at closing
- Double/Triple-wide Manufactured
Ineligible Property Types
- • Properties over 40 acres
- • Unique homes (Tiny homes, etc.)
- • Single-wide manufactured homes
- • Existing slabs (must be demolished)
- • Stand-alone interim financing