Fannie Mae

How Much of a Downpayment Do You Need to Buy a Home?

January 27th, 2023

How much of a downpayment do you need to buy a home? The long and short of it is that it depends on your situation, loan qualifications and loan type. That being said, according to a NerdWallet Home Buyer Report, 62% of Americans believe you need to put 20% down on a house. In reality? [...]

New 3% Downpayment Programs December 2014

December 10th, 2014

New 3% downpayment programs will become available in December 2014, thanks to Fannie Mae and Freddie Mac. According to a Bloomberg news report, the companies will start offering this low downpayment program beginning December 13th. Currently, Fannie Mae and Freddie Mac make up more than half of new home loans. They have allowed down payments as [...]

Case Shiller Mid-2014 Report

September 9th, 2014

The Case Shiller Mid-2014 Report is out and shows what many of us having been seeing locally -- that home prices have slowed. Per the Housing Wire article on the report, “Home price gains continue to ease as they have since last fall,” says David Blitzer, Chairman of the Index Committee at S&P Dow Jones [...]

Two Week Foreclosure Freeze

December 15th, 2010

Fannie Mae and Freddie Mac are freezing foreclosure proceedings on homes from December 20, 2010-January 3, 2011 in an attempt to join in the holiday spirit for those who will lose their homes. What they will prevent is people being evicted from their homes during this time period, hopefully allowing families to spend one last [...]

Fannie Mae Last Minute Credit Report Checks Not Mandatory

August 31st, 2010

Despite the new guidelines laid out in May regarding last minute credit checks before closing, Fannie Mae now says those full reports are not mandatory for banks to pull. Though there are systems in place to check if there have been inquiries into your credit health, and ways to see if there have been new [...]

Fannie Mae Deed-For-Lease Option

August 10th, 2010

Fannie Mae has a Deed-for-Lease option available for those who cannot make their mortgage payments on their homes anymore. This is an option for people who want to stay in their homes but cannot afford to keep them. For many Baltimore homeowners, this may be a viable option. What happens in this case is that [...]

Fannie Mae Last Minute Credit Report Check

May 22nd, 2010

Beginning June 1, 2010, just before settlement, Fannie Mae will be running last minute credit report checks to ensure borrower's credit has not changed since loan application. Though I tell my clients not to go open lines of credit before settlement, because I know many times there is a spot check, this is a new [...]

105% Refinance on Fannie Mae or Freddie Mac Owned Loans

May 9th, 2009

Yes, believe it or not, you read that right. Tasha Linton, of Atlantic Home Equity Mortgage shared with our office that they are offering 105% Refi Plus on Fannie Mae or Freddie Mac Loans! What's the deal? Primary and investment properties qualify (no limit to amount of properties owned). You can refi up to 105% LTV [...]

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