Fannie Mae RefiNow Loan Program Enhancements
FLCBank is implementing the enhancements announced by Fannie Mae Lender via Letter 2021-10 to the RefiNow loan option effective for loans submitted or resubmitted to DU on or after December 4, 2021.
Program reminders:
- A RefiNow loan may not be combined with a HomeReady refinance transaction
- High Balance loan amounts are not eligible
- The existing loan must not be a high LTV refinance loan, DU Refi Plus or Refi Plus loan
- New refinance must be secured by a 1-Unit primary residence
more…