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Fannie Mae Refinance

A large number of homeowners in different parts of the United States are struggling to make their home loan repayments. Many of them have lost their homes on foreclosure and many of them are on the verge of facing the harsh consequences. If you are one of them then a Fannie Mae refinance program could get you out of your monthly high interest mortgage payments. On the other hand, many homeowners make timely repayments however they are unable to take the advantage of the low mortgage rates because of the decreasing value of their homes. To solve the problems of all such homeowners, Fannie Mae has introduced the a refinancing program called Home Affordable Refinance.

Manifold Features of Fannie Mae Refinance Program

Fannie Mae's Home Affordable Refinance will help those homeowners whose mortgage terms are held by the corporation. With this refinance program, homeowners can convert their existing home loan with a new term having affordable repayment terms and conditions. The primary objective of the Fannie Mae's affordable refinancing program is to put responsible homeowners in a better financial condition by helping them in lowering down their monthly interest and principal payments. This will also help them to shift a more risky mortgage structure to a more stable and flexible loan term.

Affordable Refinance Rates from Fannie Mae

Fannie Mae refinance rates are comparatively lower than the rates offered by other financial institutions. The corporation has an affordable refinancing option for different borrowers with varied financial situation and needs. It is important for the borrowers to have some idea about Fannie Mae refinance guidelines in order to make the right approach. The manually underwritten Refi plus loans of the corporation are limited to origination only by the present servicer of the existing loans. Whereas the new DU Refi plus can be originated by any lender as per the choice of the borrowers.

Fannie Mae Refinancing Rules

Fannie Mae also has certain rules for lending its refinance programs to the homeowners. For instance, the Refi Plus are intended only for those borrowers who don't have financial difficulties in making their loan repayments. Moreover, the borrowers should be currently in the repayment period at the time of the refinance. The corporation further requires them to be not delinquent by over 30 days in the last 12 months. Homeowners looking to get the refinance loan from the corporation are recommended to prepare their credit and financial statement in advance.
Madison Mortgage Blog
Madison Mortgage Blog is specialized in offering the best of mortgage information throughout the country. They also provide valuable information on Fannie Mae's Refinance mortgage programs.

Loan Page
Loan Page is one of the leading mortgage lending companies operating in several states of the U.S. The company also provide reliable details on the mortgage refinance programs offered by Fannie Mae and its lender partners.

Fannie Mae
Fannie Mae has introduced the Home Affordable Refinance program to help the homeowners in the United States. Get exclusive details on the eligibility conditions and several features of the refinance programs at the company's website.


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