RefiNow™ Fixed – supported by Fannie Mae – is a loan opportunity designed to make it easier for eligible homeowners earning at or below 80% of the area median income (AMI) to refinance at a lower interest rate while also reducing their monthly mortgage payments.

While lower-income borrowers are often unable to get a refinance, this option opens the doors to them by breaking down some of those eligibility barriers.

RefiNow™ Fixed can help homeowners by:

  • Providing a $500 credit from the lender to the borrower, furnished by Fannie Mae at the time the loan is purchased if an appraisal was obtained for the transaction

To qualify for RefiNow™ Fixed, homeowners must have:

  • A Fannie Mae-backed mortgage secured by a 1-unit, principal residence
  • A current income up to 80% of the AMI (not the income as of origination of the original loan)
  • Not missed a mortgage payment in the past six months, and no more than one missed mortgage payment in the past 12 months
  • A mortgage with a loan-to-value ratio (LTV) up to 97%
  • A debt-to-income ratio (DTI) of 65% or less
  • A minimum 620 FICO® score

Existing mortgage loans must be owned or securitized by Fannie Mae. The loan must be marked as owned by Fannie Mae in the "First Mortgage Owner" field on the Addendum screen in Caliber Blueprint.


  • Borrower income must be below or at 80% of the applicable AMI limit for the subject property's location
  • 620 minimum FICO® credit score
  • LTV/CLTV/HCLTV ratios up to 97%
  • Debt-to-Income (DTI) ratio up to 65%
  • Property must be a single-unit primary residence
  • Single-unit includes attached/detached single-family and PUD, condo, modular home, and cooperative unit
  • No missed payment in the past six months
  • No more than one missed payment in the past 12 months

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