| Fannie Mae Mortgage Programs & Lenders |
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Fannie Mae Mortgage Programs
Fannie Mae has a new program called Refi Plus. Existing
programs include; Biweekly Mortgages, Flexible Mortgages,
Home Style Construction to Permanent, Home Style
Renovation, and My Community Mortgages. The following
summaries of these programs will help the refinance and
mortgage loan consumer become familiar with loan options
before the purchase of a refinance or mortgage loan. A well
informed and educated consumer is more likely to make the
appropriate choice in refinance or mortgages loans based
on individual needs and finances. These programs are
designed to meet a multitude of consumer circumstances.
Fannie Mae has a new program called Refi Plus. Existing
programs include; Biweekly Mortgages, Flexible Mortgages,
Home Style Construction to Permanent, Home Style
Renovation, and My Community Mortgages. The following
summaries of these programs will help the refinance and
mortgage loan consumer become familiar with loan options
before the purchase of a refinance or mortgage loan. A well
informed and educated consumer is more likely to make the
appropriate choice in refinance or mortgages loans based
on individual needs and finances. These programs are
designed to meet a multitude of consumer circumstances.
• Refi Plus- Are refinance loans available for borrowers who are current and up to date on
payments with their existing loans. It also allows the borrower to take advantage of the current
low interest rates, with up to 105% LTV (Loan to Value-how lenders calculate the equity
available in your home) without having to get new mortgage insurance and having a minimum
credit score.
• Biweekly Mortgages- Is simply as it implies-the borrower makes two mortgage payments a
month instead of one. It enables the borrower to save thousands on loan interest and pay off
the loan sooner.
• Flexible Mortgages-Enables the homeowner with good credit a high LTV and minimal
down payment. Where the borrower gets the money for the down payment is flexible, such as
gifts or loans from family.
• Home Style Construction to Permanent-Allows the first time homeowner to borrow money
to build a home.
• Home Style Renovation-This loan helps people who buy a home that is in need of
repairs, or refinance an existing home that needs repairs and incorporate the repair loans into
the existing mortgage. The loan is based on an “As-Completed” value rather than the
unimproved present value.
• My Community Mortgage-This is for families with moderate to low income, who have
limited funds for closing and down payment. It also offers community servants such as police
officers, firefighters, teachers, military members, and health care workers LTVs of up to 97%.
• Reverse Mortgages-Are for people 62 years and older. This is a home loan based on the
equity of their home. The borrower may borrow against the home equity and not have to pay
the loan back as long as they remain in the home. This loan is helpful for seniors who are
having difficulty keeping up with the cost of living increases.
Borrowers should be aware of all the options that are available to them and become familiar
with what specifics are involved in various loans. Go to eFannieMae.com and learn more. Don’t
be afraid to ask your lender about these various loans and together find out what is best for
your personal needs and financial situation.
| Freddie Mac Mortgage Solutions |
Freddie-Mac-Mortgage.com is engaged in the business of providing content for mortgage shoppers and is not acting as a
mortgage banker, broker or lender. Freddie-Mac-Mortgage.com acts only as a Service Provider and attempts to match
request. Information collected is not an application for credit or a mortgage loan and your request does not pre-qualify
you for a loan with any particular Lending Partner.
There is no cost to submit a request, receive loan offers or review the loan offers and talk to Lending Partners.
Freddie-Mac-Mortgage.com does not charge you, the consumer, a fee for its services.
The content on our website (the "Content") is supplied in good faith using references and sources deemed reliable;
however it is published strictly on an "as-is" basis. The operator of this website and the author hereby disclaims any and
all express or implied warranties to the maximum extent permitted by law. The Content is provided for informational
purposes only and is not to be construed as financial or legal advice. Everyone's financial circumstances are unique. You
are urged to consult multiple informational sources and a professional advisor before making any decisions affecting your
personal finances.
Freddie-Mac-Mortgage.com is not responsible for the accuracy of the rate, APR and loan information as it based on
third-party research, consumer and broker surveys and other published information sources.
mortgage banker, broker or lender. Freddie-Mac-Mortgage.com acts only as a Service Provider and attempts to match
request. Information collected is not an application for credit or a mortgage loan and your request does not pre-qualify
you for a loan with any particular Lending Partner.
There is no cost to submit a request, receive loan offers or review the loan offers and talk to Lending Partners.
Freddie-Mac-Mortgage.com does not charge you, the consumer, a fee for its services.
The content on our website (the "Content") is supplied in good faith using references and sources deemed reliable;
however it is published strictly on an "as-is" basis. The operator of this website and the author hereby disclaims any and
all express or implied warranties to the maximum extent permitted by law. The Content is provided for informational
purposes only and is not to be construed as financial or legal advice. Everyone's financial circumstances are unique. You
are urged to consult multiple informational sources and a professional advisor before making any decisions affecting your
personal finances.
Freddie-Mac-Mortgage.com is not responsible for the accuracy of the rate, APR and loan information as it based on
third-party research, consumer and broker surveys and other published information sources.
