There’s good news for low-income borrowers who may not have had the opportunity to take advantage of low refinance rates! FannieMae has introduced RefiNow, a refinance options offering expanded eligibility benefiting borrowers at or below 80% of their area median income.
This option comes as part of a commitment to fulfill the mission of affordable housing and serving low-income borrowers with financing options that help build equity and grow wealth, alongside the promotion of a stronger, safer housing finance system.
What does this mean for you? You could reap the benefits of refinancing:
If you are interested in seeing if you now qualify to increase the affordability of your home and take advantage of historically low interest rates, use our Find a Loan Officer tool to get the process started.
Source: https://singlefamily.fanniemae.com/media/25696/display
Disclaimer: Homeside Financial, LLC is an Equal Housing Lender; Co. NMLS ID #1124061. www.nmlsconsumeraccess.org. Not an offer of credit or commitment to make a loan; all approvals are subject to underwriting guidelines including but not limited to: acceptable current credit worthiness, income history, etc. Loan programs & options are subject to change at any time. By refinancing your existing loan, your total finance charge may be higher over the life of the loan.