source:
  type: guide
  id: fnma-sel-b3-4.3-10
  authority: Fannie Mae Selling Guide B3-4.3-10 — Anticipated Sales Proceeds
  description: Fannie Mae Selling Guide B3-4.3-10 — Anticipated Sales Proceeds.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-4.3-10-full
  canonical_id: fnma-sel-b3-4.3-10-full
  section: Fannie Mae Selling Guide B3-4.3-10 — Anticipated Sales Proceeds
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-4.3-10 — Anticipated Sales Proceeds
    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: 'B3-4.3-10, Anticipated Sales Proceeds (02/23/2016) Introduction
      This topic contains information on anticipated sales proceeds, including: Anticipated
      Sales Proceeds Determining the Amount of Net Proceeds Sales Proceeds Needed
      for Down Payment and Closing Costs Like-Kind Exchanges Employee Relocation Anticipated
      Sales Proceeds If the borrower’s currently owned home is listed for sale but
      has not been sold, the lender may qualify the borrower on the basis of anticipated
      sales proceeds. The lender must document the actual proceeds received by the
      borrower. Determining the Amount of Net Proceeds The following table describes
      how to determine the amount of net proceeds based on a borrower’s anticipated
      equity. Published May 6, 2026 436 Sales Price Established? Net Proceeds Calculation
      Yes Sales Price – (Sales Costs + All Liens) = Estimated Proceeds No 90% of Listing
      Price – All Liens = Estimated Proceeds Note: The 10% adjustment factor that
      is applied to the listing price must be changed depending on market conditions.
      Sales Proceeds Needed for Down Payment and Closing Costs If the proceeds from
      the sale of a currently owned home are needed for the down payment and closing
      costs on the new house, the lender must verify the source of funds by obtaining
      a copy of the settlement statement on the existing home before, or simultaneously
      with, the settlement on the new home, showing suﬃcient net cash proceeds to
      consummate the purchase of the new home. Like-Kind Exchanges Assets for the
      down payment from a “like-kind exchange,” also known as a 1031 exchange, are
      eligible if properly documented and in compliance with Internal Revenue Code
      Section 1031. Employee Relocation When the borrower’s employer assumes responsibility
      for paying oﬀ the existing mortgage in connection with a relocation plan, the
      lender must obtain a copy of the executed buy-out agreement to document the
      source of funds. A photocopy of a sales contract or a listing agreement is not
      considered an acceptable source of veriﬁcation of proceeds from the sale. Recent
      Related Announcements There are no recently issued Announcements related to
      this topic.'
  judgment: false
