For 95% loan-to-value loans FNMA requires that, as a percent of gross income, the payment not exceed: 1) 10% 2) 15% 3) 25% O 4) 18% For 95% loan-to-value loans FNMA requires that, as a percent of gross income, the payment not exceed: 1) 10% 2) 15% 3) 25% O 4) 18%