Federal Mortgage: Freddie Mac Expands Eligibility to Help More Low and Moderate Income Homeowners Affordably Refinance

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MCLEAN, Virginia, October 18, 2021 (GLOBE NEWSLETTER) – Freddie mac (OTCQB: FMCC) today issued the following statement in support of an announcement of the Federal Housing Finance Agency (FHFA) which Freddie mac and Fannie Mae’s low-income refinancing programs will be expanded to include those earning at least 100% of the region’s median income (MAI) — versus 80% for the MAI.

Donna Corley, Freddie mac The Executive Vice President and Head of Single-Family issued the following statement:

“Freddie Mac is taking action to ensure that more deserving homeowners can take advantage of today’s low mortgage rate environment through refinancing. Work with our lending clients and Federal Housing Finance Agency, we are now able to help even more low-income households to reduce their interest rate and their monthly mortgage payments thanks to our Refi Possible solution. Our priority is to create more equitable opportunities that responsibly support sustainable home ownership.

Launched in August, Refi PossibleSM is available to low and modest income homeowners with a Freddie mac– single-family mortgage backed. These homeowners will benefit from a lower interest rate and lower mortgage payments, which will help those who haven’t refinanced save around $ 100 To $ 250 a month.

Freddie mac makes the home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we made housing more accessible and affordable for buyers and renters in communities across the country. We are building a better housing finance system for buyers, tenants, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac, and Freddie Mac’s blog FreddieMac.com/blog.

CONTACT WITH THE MEDIA:
Chad wandler709-903-2446
[email protected]

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Source: Freddie mac

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