In this post, we’ll review the terms and eligibility requirements for the Freddie Mac cash-out refinance loan in order to help borrowers determine whether this is a good option for their individual needs.
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The Freddie Mac HomePossible Mortgage combines flexible credit score requirements with an incredibly low down payment requirement of just 3%.
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Fannie Mae and Freddie Mac are two names that are constantly thrown around in the world of home finance, but what are they, really?
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Mortgage insurance, also called PMI (or MIP, in the FHA program) protects banks when borrowers default on their loans. It’s not like homeowner’s insurance, which protects a borrower from theft and natural disasters.
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In part two of our “Different Types of Mortgages” series, we talked about government insured loans and conventional loans. The next category of mortgages is based on size: do you need a jumbo loan, or a conforming loan?
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In part one of our “Different Types of Mortgages” series, we talked about fixed and adjustable rate mortgages. The next important consideration when looking at your mortgage options is whether to go for a government-insured home loan, or a conventional one.
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