What does a Fannie Mae-ineligible project cost an individual owner?

Fannie Mae's Guide does not state a dollar cost, sale-price discount, rate premium, or guaranteed transaction outcome for an owner in an ineligible project. It states that Fannie Mae will not purchase or securitize loans secured by units in projects with listed ineligible characteristics.

What is supported by the source?

The source supports an agency-delivery consequence, not a universal lending-market prediction. It also permits a lender that believes a project has merit to request special consideration under a separate Guide process. That request belongs to the lender and does not promise an exception.

What is not supported?

This page does not claim:

• that every lender will deny financing;
• that a pending sale must fail;
• that only cash or portfolio financing remains;
• that an owner will wait longer, accept less, or pay a specific premium; or
• that Ballast can make a project eligible or warrantable.

Those outcomes depend on facts and market evidence that the cited Guide does not establish. The useful first step is to identify which supplied project facts may need attention under the current ruleset.

Sources

• Fannie Mae Selling Guide B4-2.1-03, Ineligible Projects, version August 5, 2026 — agency purchase and securitization boundary and lender-requested special-consideration path.

Primary source accessed September 11, 2026.