Fannie Mae Selling Guide B2-2-07 — First-Generation Homebuyer Loans

fnma-sel-b2-2-07

Fannie Mae Selling Guide B2-2-07 — First-Generation Homebuyer Loans.

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      paragraph_quote: 'B2-2-07, First-Generation Homebuyer Loans (05/01/2024) Introduction This topic contains information on ﬁrst-generation homebuyer loans, including: Overview First-Generation Homebuyer Certiﬁcation Delivery Data Overview A ﬁrst-generation homebuyer loan is one in which each borrower meets the following requirements: Published May 6, 2026 239 Is purchasing the subject property, Will reside in the subject property as a principal residence, Has had no ownership interest (sole or joint) in another property during the last three years preceding the note date of the loan, and One of the following must also apply: No parent of the borrower has had an ownership interest (sole or joint) in a property in the last three years preceding the note date of the loan, The borrower has aged out of foster care, or The borrower has been emancipated. First-Generation Homebuyer Certiﬁcation The identiﬁcation of ﬁrst-generation homebuyer loans is currently optional for lenders. However, if a lender chooses to do so, the First-Generation Homebuyer Certiﬁcation (Form 1109) must be completed by each borrower who is applying for the loan. The lender must retain a copy of each completed Form 1109 in the loan ﬁle. Delivery Data The lender may report SFC 886 when delivering a ﬁrst-generation homebuyer loan to Fannie Mae. However, by doing so the lender must ensure that all borrowers on the loan have completed the certiﬁcation and the certiﬁcation(s) are in the loan ﬁle. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Announcements Issue Date Announcement SEL-2024-03 May 01, 2024 Chapter B2-3, Property Eligibility Introduction This chapter includes information on property eligibility requirements. Published May 6, 2026 240'

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Verbatim provisions from Fannie Mae Selling Guide B2-2-07 — First-Generation Homebuyer Loans — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

Fannie Mae Selling Guide B2-2-07 — First-Generation Homebuyer Loans

B2-2-07, First-Generation Homebuyer Loans (05/01/2024) Introduction This topic contains information on ﬁrst-generation homebuyer loans, including: Overview First-Generation Homebuyer Certiﬁcation Delivery Data Overview A ﬁrst-generation homebuyer loan is one in which each borrower meets the following requirements: Published May 6, 2026 239 Is purchasing the subject property, Will reside in the subject property as a principal residence, Has had no ownership interest (sole or joint) in another property during the last three years preceding the note date of the loan, and One of the following must also apply: No parent of the borrower has had an ownership interest (sole or joint) in a property in the last three years preceding the note date of the loan, The borrower has aged out of foster care, or The borrower has been emancipated. First-Generation Homebuyer Certiﬁcation The identiﬁcation of ﬁrst-generation homebuyer loans is currently optional for lenders. However, if a lender chooses to do so, the First-Generation Homebuyer Certiﬁcation (Form 1109) must be completed by each borrower who is applying for the loan. The lender must retain a copy of each completed Form 1109 in the loan ﬁle. Delivery Data The lender may report SFC 886 when delivering a ﬁrst-generation homebuyer loan to Fannie Mae. However, by doing so the lender must ensure that all borrowers on the loan have completed the certiﬁcation and the certiﬁcation(s) are in the loan ﬁle. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Announcements Issue Date Announcement SEL-2024-03 May 01, 2024 Chapter B2-3, Property Eligibility Introduction This chapter includes information on property eligibility requirements. Published May 6, 2026 240

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