We Have a Loan for Everyone
Home Possible and HomeReady Loans
Do you have low income but a good credit score? Are you worried about having enough cash for a down payment? If so, a Home Possible or HomeReady loan could be the loan for you. With a low down payment requirement and flexible funding, these options make buying or refinancing a home possible for more borrowers.
High Loan to Value
A High Loan-to-Value Refinance is available to current Fannie Mae mortgage borrowers. Refinance applications received on or after November 1, 2018 are available to be refinanced. There is a for adjustable-rate mortgages and no maximum LTV for fixed-rate mortgages.
Lender Paid Mortgage Insurance Fixed Rate
When your down payment is less than of the value of the home, you have to pay a mortgage insurance premium. Typically, the borrower pays for this. However, with Lender Paid Mortgage Insurance, the lender pays for your mortgage insurance up front and increases your monthly payments to cover for the insurance. While your monthly rate will be higher, it allows you to purchase a home without having to save up longer for a down payment. LPMI is a fixed rate that is good for both purchasing a new home and no cash back refinances of current homes.