On August 3, Fannie Mae issued its Selling Guide for Single Families. According to the guide, Fannie Mae will begin to buy mortgage loans with lender-funded grants, including down payment assistance, closing costs, or financial reserves. Specifically, the guidance noted that: (i) the loan must be a HomeReady loan used for a purchase transaction; (ii) “[t]he borrower(s) must make a 3% contribution from their own funds, other eligible sources of funds as described in Chapter B3-4, Asset Assessment, or through a Community Seconds loan”; and (iii) “[t]he lender must have a documented program that provides grants for low- to moderate-income borrowers, community development, equitable housing initiatives, or similar initiatives.”