New Refi Opportunity Exists for Homeowners with Conventional Fannie Mae and Freddie Mac Loans

 New Refi Opportunity Exists for Homeowners With Conventional Fannie Mae & Freddie Mac Loans

If you're one of the 13 million homeowners that Black Knight mortgage data firm estimates have not yet refinanced ... but could be saving an average of $283 a month ... here's some information that could prove pretty motivating.

Fannie Mae and Freddie Mac have announced that homeowners that hold Conventional Fannie Mae or Freddie Mac mortgages are now eligible for a new and unique offering. 

The announcement reads:

"Fannie Mac and Fannie Mae have adopted a new Refinance option for loans to      Borrowers with incomes at-or-below- 80% of area median income.  You may be eligible to take advantage of this program.

If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under this new option".

You can easily determine whether your mortgage is owned by either Fannie Mae or Freddie Mac in one of these 3 ways:

1. Freddie Mac Lookup Tool
2. Fannie Mae Mortgage Loan Lookup
3. Contact me for assistance

If it is determined that you hold a conventional Fannie Mae or Freddie Mac mortgage, I will conduct research to see if a refinance makes sense for you.  I will then search for the best mortgage terms, interest rates, and loan options for your specific needs.

It must be noted here:  If you are a homeowner that holds an FHA or VA loan, these new programs do NOT apply.  But there is good news for you too, as new refinance options now exist that could be of assistance to you.  

Also of note, but DIFFERENT LOAN PROGRAMS FROM ABOVE: 

Home equity (via rising home values) has experienced a substantial rise in many home markets.  

Having increased home equity can help you:

• Lower your interest rate
• Lower your monthly mortgage payments
• Shorten your mortgage term
• Change your mortgage program
• Pay-off other debt (higher rate credit cards, Student Loans, or Home Equity Lines of Credit)
• Provide a Cash-Out (For payment of home improvements or home repairs)
• Get rid of PMI (Private Mortgage Insurance)
• More ...

Mortgages are much like the ebb and tide of the oceans.  Mortgage options appear and disappear all the time.

For this reason and many others, it's wise to stay in touch with your mortgage lender.  The tide may be in for you and a new mortgage option may now exist that could prove beneficial to your finances or make improvements (or even a new home) possible. 

Reach out.  Get the information you need.  Discover what opportunities now exist for you ...

Looking for mortgage financing answers, options, solutions, and experienced assistance?

Are you hoping to Buy, Refinance or purchase an Investment Property in New Lenox, Will County, or elsewhere in the Chicagoland area/IL/WI?

Contact me!  I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf.
I'm easily found at:

Gene Mundt

Mortgage Originator -NMLS #216987 - IL Lic. 031.0006220 - WI Licensed

American Portfolio Mortgage Corp

NMLS #175656

Direct: 815.524.2280

Cell/Text: 708.921.6331

eFax: 815.524.2281

www.genemundt.com

gmundt@goapmc.com

 

              

   

Gene Mundt, Mortgage Originator, an Originator with 40+ years of mortgage experience, will offer you exemplary mortgage service and advice when seeking: 

Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago and the 

greater Chicagoland region, including: 

The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, 

Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, 

Romeoville, Naperville, etc.), DuPage County, Kane County, Grundy County,

the City of Chicago, Cook County, and elsewhere within IL & WI.

                                       Referrals are Appreciated and Welcomed