The purpose of this work is to obtain quantitative MRI maps of fat and water with a fast acquisition using MR Fingerprinting (MRF). The major advantage of MRF is its intrinsic multicomponent quantification capability, which overcomes the limitations of traditional separation techniques. Previous methods using MRF have repeated the same acquisitions for multiple echo times in order to obtain fat fraction maps. Here, variable echo times within a single MRF acquisition are used, in order to estimate T1 and PD of water and fat. We demonstrate quantitative maps in 16s per slice and improved delineation of anatomy in human knees.