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6 kwi 2022 · “Freddie Mac and Fannie Mae have adopted a new refinance option for loans to borrowers with incomes at or below 100% of area median income and you may be eligible to take advantage of this program.
To qualify for the refinance option, homeowners must have: a Fannie Mae owned mortgage secured by a 1-unit, principal residence; current income at or below 100% of the area median income; no missed payments on their current mortgage loan in the past six months, and no more than one missed payment in the past 12 months; and
5 maj 2021 · Initially announced April 28 by the Federal Housing Finance Agency, RefiNow makes it easier for eligible homeowners earning at or below 80% area median income (AMI) to refinance at a lower interest rate and reduce their monthly mortgage payment.
RefiNowTM is an afordable refinancing option for qualifying homeowners aimed at making it easier and less expensive to reduce monthly housing costs. The matrix below summarizes our eligibility guidelines for RefiNow. Please refer to Lender Letter LL-2021-10 for additional information.
29 lip 2022 · Some of the terms and other information in this presentation are defined and discussed more fully in Fannie Mae's Form 10-Q for the quarter ended June 30, 2022 (“Q2 2022 Form 10-Q”) and Form 10-K for the year ended December 31, 2021 (“2021 Form 10-K”).
20 paź 2021 · Today, Fannie Mae updated Lender Letter LL-2021-10, Expanding Refinance Eligibility with RefiNow™, communicating changes to its single-family sellers, including: Increasing the borrower income limit to allow up to 100% of the applicable area median income (AMI) limit.
If you already have a Fannie Mae-owned loan, you can refinance with as little as 3% equity. If your mortgage isn’t owned by Fannie Mae, you can refinance with as little as 5% equity. Co-borrower flexibility. Not all borrowers have to reside at the property.
