Forum Replies Created
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Gustan
AdministratorFebruary 8, 2023 at 8:27 pm in reply to: What Is The Role of Fannie MAE and Freddie MAC?Without Fannie and Freddie, lenders would not be able to originate and fund mortgage loans with a low down payment at competitive rates and favorable terms. The housing market would not be as stable as it has been in the past 50 years without Fannie Mae and Freddie Mac. In the following paragraphs, we will cover conventional loans and how the conforming mortgage loan process works.
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Gustan
AdministratorFebruary 8, 2023 at 8:26 pm in reply to: What Is The Role of Fannie MAE and Freddie MAC?Without Fannie Mae and Freddie Mac, housing prices would not be at a stabilized value like it has been for decades. Fannie Mae and Freddie Mac are part of the federal government, nor is it backed by government agencies like FHA, VA, and USDA loans. The two mortgage giants are government-sponsored enterprises (GSEs), the two largest purchasers of mortgage-backed securities. Fannie Mae and Freddie Mac will purchase mortgage loans from private lenders to keep liquidity in the mortgage markets.
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Gustan
AdministratorFebruary 8, 2023 at 8:14 pm in reply to: What Is The Role of Fannie MAE and Freddie MAC?Fannie Mae and Freddie Mac are the two mortgage giants in the nation in charge of buying mortgages on the secondary market. Without Fannie Mae and Freddie Mac, mortgage lenders would not be able to offer mortgage loans with low down payment at low rates.
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Gustan
AdministratorFebruary 8, 2023 at 5:32 pm in reply to: Can You Get Conventional Loans With Bad Credit?Many borrowers are under the impression you need perfect credit to qualify for conventional loans. This is not the case. You need to have a minimum credit score of 620 FICO to be eligible for conventional loans.
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Gustan
AdministratorFebruary 8, 2023 at 5:32 pm in reply to: Can You Get Conventional Loans With Bad Credit?Many borrowers are under the impression you need perfect credit to qualify for conventional loans. This is not the case. You need to have a minimum credit score of 620 FICO to be eligible for conventional loans.
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