Fannie Mae Loans

Low to Middle Income Mortgages
About Fannie Mae
Fannie Mae's primary goal is to ensure that low to middle income citizens can qualify for a home loan. Fannie Mae does not receive funds from the government; in fact, they are one of the United State's biggest taxpayers. Fannie Mae does not lend money directly to borrowers; instead they buy Federal Housing Administration (FHA)-insured home loans under $417,000 from mortgage companies. The mortgage companies can then use that money to make more mortgages for low to middle income home buyers.
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Home Buying Vocabulary
  RESPA
Real Estate Settlement Procedures Act. RESPA is a federal law which requires lenders to provide home mortgage borrowers with information about known or estimated settlement costs.
Frequently Asked Question
Will refinancing enable me to terminate my PMI?
Answer:
You may be able to eliminate PMI by refinancing. If, by refinancing, you are able to have at least 20% equity in your home, and you have made your house payments on time for the last year or so.
NationalFinancer has relationships with many lenders that participate in the Fannie Mae Home Loan Program. Use the form above to receive a free, no obligation home loan quote today.
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