Search results
Results from the WOW.Com Content Network
HomeReady vs. Home Possible mortgages. Home Possible is a similar program to HomeReady, but it’s backed by Freddie Mac instead of Fannie Mae. Both loans are designed for lower-income borrowers.
The plan has not passed. HARP 3.0 is expected to expand HARP's eligibility requirements to homeowners with non-Fannie Mae and non-Freddie Mac mortgages, including homeowners with jumbo mortgages and Alt-A mortgages, those whose original mortgages were stated income, stated asset, or both. [8]
Freddie Mac’s Home Possible mortgage is for very-low-income and low-income borrowers. In addition to having low down payment requirements and flexible credit criteria , Home Possible lets you ...
Conventional 97 mortgage: This conventional loan, backed by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, requires just 3 percent down and a minimum credit score of 620.
The Federal Housing Finance Agency (FHFA) is an independent federal agency in the United States created as the successor regulatory agency of the Federal Housing Finance Board (FHFB), the Office of Federal Housing Enterprise Oversight (OFHEO), and the U.S. Department of Housing and Urban Development government-sponsored enterprise mission team, [3] absorbing the powers and regulatory authority ...
These programs include the Government National Mortgage Association (known as Ginnie Mae), the Federal National Mortgage Association (known as Fannie Mae) and the Federal Home Loan Mortgage Corporation (known as Freddie Mac). These programs work by offering a guarantee on the mortgage payments of certain conforming loans.
Ginnie Mae is similar to Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation) with the difference being that Ginnie Mae is a wholly owned government corporation whereas Fannie Mae and Freddie Mac are "government-sponsored enterprises" (GSEs), which are federally chartered corporations ...
Congress created Freddie Mac, on the other hand, with the goal of expanding the secondary mortgage market, buying loans that meet its standards from lenders. This function allows lenders to make ...