source:
  type: guide
  id: fnma-sel-b6-1-02
  authority: Fannie Mae Selling Guide B6-1-02 — Eligible FHA-Insured Mortgage Loans
  description: Fannie Mae Selling Guide B6-1-02 — Eligible FHA-Insured Mortgage Loans.
  coverage_tier: operative
obligations:
- id: fnma-sel-b6-1-02-full
  canonical_id: fnma-sel-b6-1-02-full
  section: Fannie Mae Selling Guide B6-1-02 — Eligible FHA-Insured Mortgage Loans
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B6-1-02 — Eligible FHA-Insured Mortgage Loans
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'B6-1-02, Eligible FHA-Insured Mortgage Loans (08/05/2020) Introduction
      This topic contains information on eligible FHA-insured loans, including: Overview
      FHA Higher Balance Mortgage Loans FHA-Insured Adjustable-Rate Mortgages Other
      Fannie Mae Policies that Pertain to FHA Loans Overview Fannie Mae may purchase
      or securitize single-family loans that are insured by FHA under the following
      Sections of Title II of the National Housing Act: Section 203(b) Home Mortgages,
      Section 203(h) Home Mortgages for Disaster Victims, Section 203(k) Rehabilitation
      First Mortgages, Section 234 Condominium Units (individual mortgages only),
      and Section 251 Adjustable-Rate Mortgages. The above-listed FHA loans can only
      be delivered to Fannie Mae under a variance in the Lender Contract. The loans
      must comply with all applicable FHA laws and guidelines and the lender must
      obtain the required FHA mortgage insurance. Published May 6, 2026 824 Note:
      Each Section 203(k) mortgage loan delivered to Fannie Mae must be identiﬁed
      with SFC 089. FHA Higher Balance Mortgage Loans Lenders may deliver higher balance
      FHA loans to Fannie Mae for whole loan or MBS execution. Certain FHA higher
      balance loans must be delivered with SFC 798. Refer to Special Feature Codes
      on Fannie Mae''s website for additional information about the use of this SFC.
      FHA-Insured Adjustable-Rate Mortgages Fannie Mae will purchase or securitize
      the following regularly amortizing FHA-insured ARMs that are tied to the appropriate
      Treasury securities index: 3/1 ARM Plan 3549, 1/1/5 cap; 5/1 ARM Plan 3550,
      1/1/5 cap; 5/1 ARM Plan 3640, 2/2/6 cap; 7/1 ARM Plan 3551, 2/2/6 cap; and 10/1
      ARM Plan 3552, 2/2/6 cap. Other Fannie Mae Policies that Pertain to FHA Loans
      Fannie Mae imposes the following additional policies for FHA loans: Fixed-rate
      FHA-insured loans that are subject to interest rate buydowns are eligible for
      delivery to Fannie Mae as long as the borrower is qualiﬁed at the note rate.
      FHA-insured loans that were previously included in a Ginnie Mae MBS pool but
      removed due to delinquency or other reasons are only eligible for sale to Fannie
      Mae on a negotiated basis. Recent Related Announcements The table below provides
      references to recently issued Announcements that are related to this topic.
      Announcements Issue Date Announcement SEL-2020-04 August 05, 2020 Announcement
      SEL-2019-03 April 03, 2019 Published May 6, 2026 825'
  judgment: false
