WebFeb 16, 2024 · Since Community Seconds accompany loans backed by Fannie Mae, they follow the general credit score requirements of conventional loans. That means you need a median FICO ® Score of at least 620. Beyond that, entities giving you a loan for the Community Second may have requirements for your credit score in order to give them … WebApr 5, 2024 · If public sewer and/or water facilities (those that are supplied and regulated by the local government) are not available, community or private well and septic facilities …

Originating & Underwriting Fannie Mae

WebWill Fannie Mae lend on a property where the utilities were not turned on at the time of the appraisal inspection? Yes. Fannie Mae does not require that the utilities that serve the property be turned on at the time of the inspection. Q23. Can a loan be delivered to Fannie Mae if the property is located on a community- owned or privately maintained WebJul 25, 2024 · We reported back in 2024 that FHA rules in HUD 4000.1 establish a requirement for any community sewage systems to be properly licensed. They also must be “adequate to service the property.” This will depend on the approval of the local authority; the FHA does not maintain a specific list of “approved” septic systems and well water ... dick heiman lithia

A SHARED WELL AGREEMENT - Water Systems Council

WebNo. Fannie Mae expects that the appraisal will reflect the value attributable to the entire property. It is important for the underwriter and Fannie Mae to fully understand the value … Web15 Water Supply and Sanitary Facilities 12-20 16 Individual Water Supply 12-22 17 Individual Sewage Disposal 12-24 18 Shared Wells 12-25 19 Community Water … WebMar 1, 2024 · Fannie Mae has partnered with industry leaders on a national survey effort to collect and analyze multifamily property energy and water consumption and costs in the … dick hedman