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17 paź 2024 · The Refinance Test evaluates a borrower’s ability to successfully refinance a balloon balance at maturity. We're providing you with this tool to: Make the test results transparent to you early in the underwriting process.
Learn about the Freddie Mac Refi Possible℠ Mortgage tool that offers refinancing options for borrowers with incomes at or below the area median.
Refi Possible is available for Manually Underwritten Mortgages with Application Dates on and after August 30, 2021, and for submissions to Loan Product Advisor® on and after August 30, 2021.
FREDDIE MAC REFI POSSIBLESM READINESS ROADMAP. Freddie Mac Refi PossibleSM is a refinance ofering to assist low- and moderate-income homeowners reduce their monthly mortgage expenses enhance their capability to save more and build housing stability and generational wealth.
Freddie Mac’s Primary Mortgage Market Survey (PMMS) is the longest running weekly survey of mortgage interest rates in the United States. Since Freddie Mac launched its survey in 1971, others have begun collecting and reporting mortgage rate information.
Refi Possible provides expanded flexibilities to encourage borrowers to refinance into a more sustainable mortgage that promotes long-term homeownership success. With expanded eligibilities, Refi Possible enables even more low- and moderate-income creditworthy borrowers to reduce their monthly mortgage expenses.
PRODUCT DESCRIPTION First lien, fully amortizing, Fannie Mae Conforming DU Refi Plus; fixed rate only. The existing mortgage MUST be a Fannie Mae owned or guaranteed first lien mortgage. DU findings must indicate that the borrower and subject property address are DU Refi Plus eligible.
