source:
  type: guide
  id: fnma-sel-b2-2-07
  authority: Fannie Mae Selling Guide B2-2-07 — First-Generation Homebuyer Loans
  description: Fannie Mae Selling Guide B2-2-07 — First-Generation Homebuyer Loans.
  coverage_tier: operative
obligations:
- id: fnma-sel-b2-2-07-full
  canonical_id: fnma-sel-b2-2-07-full
  section: Fannie Mae Selling Guide B2-2-07 — First-Generation Homebuyer Loans
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B2-2-07 — First-Generation Homebuyer 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: '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'
  judgment: false
