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Fannie Mae Mortgage

Fannie Mae mortgage modification and refinance programs have enabled a large number of homeowners in the country to avoid home foreclosure and it serious consequences. As a part of the making home affordable program in the United States, Fannie Mae is offering refinance programs for the existing loans of the homeowners. The main objective of this initiative is to provide access to low-price refinancing options for responsible homeowners that are suffering financial troubles in making their mortgage payments. With the help of these refinance programs from Fannie Mae, borrowers will be able to improve their financial position by lowering their monthly interest and principal payments on their current mortgage loans.

Mortgage Modification From Fannie Mae

On the other hand, the mortgage modification programs from Fannie Mae will allow potential borrowers to shift a more risky loan structure to a more flexible program. This will help the homeowners to prevent late payments and even foreclosure of their homes. Fannie Mae has introduced two new refinance solutions to eligible borrowers in the nation. These new mortgage solutions were designed under the Obama administration and they have to be implemented by Fannie Mae and Freddie Mac. These two streamlined processes is known as
  • Refi Plus, which requires manual underwriting
  • DU Refi Plus for loan programs underwritten using desktop underwriter

Fannie Mae Mortgage Help and Mortgage Limits

These two solutions is considered as the most significant mortgage help offered by the Fannie Mae and Freddie Mac to the homeowners in the country. However, the difference between DU Refi Plus and Refi Plus programs is relevant only to the insiders of the mortgage industry. The following are some details relevant to the homeowners who are looking to avail the above refinancing help.
  • There is no seasoning requirements of the current mortgage loan in order to qualify for the refinance programs.
  • There is no minimum credit score requirement however, homeowners should provide a credit report for pricing purpose.
  • If the borrowers does not have mortgage insurance on their current loan term, then there will be no insurance requirement on the refinance program. However, if the borrower has the insurance policy, then the same is required for the new refinance mortgage.
  • The refinance loan amount can be up to 105% of the total home value. This mortgage limit is applicable even to the bad credit borrowers.
 
MortgageLoan.com
MortgageLoan.com is one of the leading mortgage service providers operating in all the US states. They also offer reliable info on mortgage refinance programs offered by Fannie Mae in the country.

WebSite:http://www.mortgageloan.com/do-you-qualify-for-a-fannie-mae-mortgage-refi-plus-3312
 
eFannie.com
At eFannie.com, you will be able to check out the latest mortgage products offered by Fannie Mae. The company also offer all the details on the qualification conditions of the borrowers.

WebSite:https://www.efanniemae.com/sf/mortgageproducts/
 
Fannie Mae
Fannie Mae provide a number of mortgage modification and refinance programs to help the borrowers avoid foreclosure of their homes. Visit the website of the company to get further details on their services.

WebSite:http://www.fanniemae.com/homeowners/



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