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What is Freddie Mac refi possible?

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

What is a Freddie Mac refi possible?

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.

What is the difference between home possible and home possible advantage?

Freddie Mac Home Possible Vs. The Home Possible mortgage, by comparison, can be used to buy a home with one to four units and manufactured homes. The Home Possible program offers fixed-rate and adjustable-rate mortgages, while Home Possible Advantage only offers fixed-rate mortgages.

What is the Freddie Mac relief refinance?

The Relief Refinance Mortgage offers Borrowers who have been unable to refinance due to declining property values, the ability to refinance into mortgages that better positions them for long-term homeownership success.

Is refi possible better than home possible?

At a high level, a Refi Possible mortgage would be a better refinance option for borrowers who may not qualify for Home Possible; this could include borrowers with higher debt-to-income (DTI) ratios or who have limited funds to pay for upfront appraisal costs.