mortgagetape™Use Case · Eligibility Check (Fannie, Freddie, FHA, VA)
Check a specific loan against all four major eligibility matrices in one step: Fannie Mae's Eligibility Matrix, Freddie Mac's Seller/Servicer Guide (Chapter 4203), the FHA 4000.1 Handbook (including specialty programs — 203(k) rehab, 234(c) condo, 245(a) GPM, Streamline Refinance, EEM), and VA Pamphlet 26-7 (including multi-unit 2–4 owner-occupied). Paste the loan profile in chat and get a per-agency verdict with the specific LTV/FICO/DTI/entitlement checks each ran, plus Selling Guide / Handbook / Chapter citations on any failures. Designed for loan-officer triage before a Desktop Underwriter / Loan Product Advisor / TOTAL Scorecard / VA WebLGY submission — mention the target agency (or list several) in your prompt and the engine runs the appropriate rulesets.
Sample prompts
Clean 1-unit primary purchase at 90% LTV
“Check Fannie + Freddie eligibility: purchase, 1-unit primary, $360K loan on $400K value, 720 FICO, 38% DTI, first-time homebuyer.”
✅✅ Eligible to both Fannie Mae and Freddie Mac at 90% LTV. The standard happy path — a clean conforming purchase fits both matrices, both panels show six passing checks each…
97% LTV FTHB: Fannie eligible, Freddie not
“Check GSE eligibility: purchase, 1-unit primary, $388K loan on $400K value, 720 FICO, 38% DTI, first-time homebuyer.”
✅❌ A real divergence: Fannie's FRM ceiling for FTHB loans goes to 97%, but Freddie's standard matrix caps at 95% — so a 97% LTV first-time-homebuyer loan is deliverable to Fannie but not to Freddie…
1-unit investment LCOR at 80% LTV: Freddie eligible, Fannie not
“Will Freddie buy this? Limited cash-out refi, 1-unit investment, $320K loan on $400K value, 740 FICO, 40% DTI.”
❌✅ The other real divergence: Fannie caps 1-unit investment LCOR at 75% LTV (separate from purchase's 85%), but Freddie lumps purchase + LCOR at 85% — so the same 80% LTV LCOR clears Freddie but not Fannie…