Agency Guidelines
Plain-language breakdowns of Fannie Mae, Freddie Mac, FHA, USDA, and VA guidelines. Understand the rules that govern every deal you close.
Agency guidelines are the rulebook for every loan you originate. Fannie Mae, Freddie Mac, FHA/HUD, and USDA each publish detailed seller guides and handbooks that define eligibility, documentation requirements, property standards, and underwriting criteria.
These articles break down specific guideline topics in plain language, with section references so you can locate the original source material. Each post targets one common guideline question that mortgage professionals search for.
Looking for direct links to the agency handbooks themselves, plus regulatory and lookup tools? See the mortgage broker resource hub.
Need a fast eligibility verdict before you read the full post? Run the matching free quick-check tool: gift fund donor and documentation, condo project review, USDA household income, or FHA MPR property check. No signup, cited verdict, then read the source post for the full picture.
All posts in this series
Fannie Mae Form 8821 in 2026: IRS Transcript Alternative to Form 4506-C
How the Fannie Mae Selling Guide now allows IRS Form 8821 as an alternative to Form 4506-C for tax transcript verification (updated by SEL-2026-06), and what documentation lenders need.
4 min read
Fannie MaeSEL-2026-06tax transcripts2026
FHA Limited 203(k) in 2026: ML 2026-06 Allows Up to Four Draws
Mortgagee Letter 2026-06 raises the Limited 203(k) draw limit and allows multiple disbursements per draw; workflow notes for brokers.
2 min read
FHAML 2026-06203krenovation2026
VantageScore 4.0 and FICO 10T in 2026: What Fannie, Freddie, and FHA Allow Today
Cross-agency guide to who can use VantageScore 4.0 and FICO Score 10T today, what stays on Classic FICO, and pending implementation dates per the Fannie Mae Selling Guide, Freddie Mac Seller/Servicer Guide, and FHA INFO 2026-11.
4 min read
Fannie MaeFreddie MacFHAcredit scores2026
USDA Property Eligibility in 2026: Rural Area Designation, Site Requirements, and Ineligible Properties
How USDA property eligibility works in 2026 under HB-1-3555, including rural area designation, site and acreage requirements, income-producing restrictions, and which property types are ineligible.
6 min read
USDAproperty eligibilityrural developmentUSDA loans
Freddie Mac Home Possible in 2026: Income Limits, LTV, and Homeownership Education
How Freddie Mac Home Possible works in 2026, including the area-median-income limit, maximum LTV and TLTV, eligible occupancy and property types, and the homeownership education requirement.
8 min read
Freddie MacHome Possibleaffordable lendingconventional loans
FHA Streamline Refinance in 2026: Credit-Qualifying vs Non-Credit-Qualifying, Net Tangible Benefit, and Seasoning
How the FHA streamline refinance works in 2026, including the net tangible benefit test, seasoning and payment-history requirements, and the difference between credit-qualifying and non-credit-qualifying streamlines.
7 min read
FHAstreamline refinancerefinanceFHA loans
Fannie Mae DTI Limits in 2026: Maximum Ratios, DU Flexibility, and Income Calculation
How Fannie Mae debt-to-income limits work in 2026, including the Desktop Underwriter risk-based maximum, manual underwriting caps, and how qualifying income and monthly debts are calculated.
8 min read
Fannie MaeDTIconventional loansunderwriting
VA Minimum Property Requirements: What Changes May 1, 2026 and What Doesn't
What the February 27, 2026 revision of VA Pamphlet 26-7 Chapter 12 actually changes about Minimum Property Requirements, effective May 1, 2026: Topic 1's removal of subtopics g and i, Topic 23's removal of Non-Vented Heater, Topic 32's condensed Lead-Based Paint language, and Topic 34's removal of Radon Gas, plus the 43-Topic MPR list, the high-frequency catches brokers should know going in, and what carries over unchanged.
13 min read
VAVA loansMPRappraisalPamphlet 26-7
VA Appraisal Requirements in 2026: Process, Report, Alternative Valuations, and Bias Oversight
How VA appraisals work in 2026, including the WebLGY ordering workflow, the SAR-to-NOV review chain in Pamphlet 26-7 Chapters 10 and 11, the alternative valuation waterfall under Circular 26-22-13, the Connecticut Planning Regions update under Circular 26-25-11, and the appraisal-bias oversight procedures under Circular 26-23-5.
11 min read
VAVA loansappraisalveterans
VA Loan Assumption Process in 2026: Approvals, Entitlement, Fees, and Forms
How VA loan assumptions work in 2026, including the approval requirement under 38 CFR § 36.4309, the two stacking-order pathways from Circular 26-23-10, the $300 processing fee plus regional locality variance, the new Form 26-10291 entitlement acknowledgement, secondary borrowing rules, and release of liability under § 36.4326.
12 min read
VAVA loansloan assumptionveterans
VA Funding Fee in 2026: Current Rates, Exemptions, and Refund Procedures
How the VA funding fee works in 2026, including the current rate window per Circular 26-23-6 Exhibit B, the exemption categories under 38 CFR § 36.4313(e)(5), and the refund procedure under Circular 26-23-19.
7 min read
VAfunding feeVA loansveterans
USDA Loan Income Limits: How Eligibility Is Calculated and Verified
Practical guide to USDA household income limits including adjusted annual income calculations, property eligibility lookup, and common pitfalls that cause denials, referencing USDA HB-1-3555.
5 min read
USDA loansincome limitsrural developmentproperty eligibility
Freddie Mac Condo Approval: Eligibility, Reviews, and 2026 Updates
How Freddie Mac condo eligibility differs from Fannie Mae, covering project review types, ineligible project characteristics, and reciprocal reviews per Guide Chapter 5701, updated for 2026 Bulletin changes.
5 min read
Freddie Maccondo eligibilityproject reviewcondo approval
Fannie Mae Gift Fund Requirements: Sourcing, Documentation, and Eligible Donors
Step-by-step guide to Fannie Mae gift fund rules including eligible donors, documentation requirements, and common audit findings, referencing Selling Guide B3-4.3.
4 min read
Fannie Maegift fundsdown paymentselling guide
FHA Appraisal Requirements: What Mortgage Brokers Need to Know in 2026
A plain-language guide to FHA appraisal requirements under HUD Handbook 4000.1. Covers property standards, minimum property requirements, repair conditions, and common deal-killers.
4 min read
FHAappraisalsHUD 4000.1