Refi Possible

Allow More Homeowners To Lower Their Mortgage Payments

Freddie Mac Refi PossibleSM offers more options and expanded flexibilities to help even more low-and moderate-income borrowers consider refinancing their current loans to save on their monthly mortgage payments.

Refi Possible Is for

  • Low- and moderate-income borrowers who may not have realized the benefit of refinancing their current loan.
  • Borrowers looking to save more on their monthly principal and interest payments.
  • 1-unit primary residence, manufactured housing, and all eligible property types homeowners.

 

Borrowers need to meet several qualifications.

  • Freddie Mac must be the investor in the existing loan.
  • Borrowers must make no more than the median income in their area.
  • DTI must be 65% or less.
  • Need at least 3% existing equity in their home.
  • Borrowers need a good payment history. No more than one 30-day late payment in the last year and none in the last 6 months.
  • The existing mortgage needs to be at least a year old.

 

Get More Details about Freddie Mac Refi PossibleSM