CRT-Eligible Profile Summary

Value Acceptance (Appraisal Waiver) Eligibility Transactions considered for a value acceptance offer:* ■ Loan casefiles that receive an Approve/Eligible recommendation ■ One-unit properties, including condominiums ■ Limited cash-out refinance transactions: principal residences and second homes up to 90% LTV/CLTV. Investment properties up to 75% LTV/CLTV ■ Cash-out refinance transactions: principal residences up to 70% LTV/CLTV. Second homes and investment properties up to 60% LTV/CLTV ■ Purchase transactions: principal residences and second homes up to 80% LTV/CLTV Properties in high-needs rural locations, as identified by FHFA *The majority of transactions will not receive a value acceptance offer; they will require use of one of the value determination methods involving a qualified residential appraiser as described earlier. The following are not eligible for a value acceptance offer: ■ Texas 50(a)6 loans ▪ When the lender has any reason to believe an appraisal is warranted ■ Construction and construction-to-permanent loans ■ Two-to four-unit properties, cooperative units, and manufactured homes ■ Loan casefiles in which the value of the subject property provided to DU is $1,000,000 or greater ■ HomeStyle® mortgage products (Renovation and Energy) ■ Leasehold properties Community land trust homes or other properties with resale restrictions ■ DU loan casefiles that receive an ineligible recommendation ■Loans for which the mortgage insurance provider requires an appraisal ■ Loans for which rental income from the subject property is used to qualify Visit singlefamily.fanniemae.com/originating-underwriting/appraisal-waivers for more information 66 © 2024 Fannie Mae

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