It’s About to Get Easier for Over a Million Homeowners to Refinance Their Mortgages
Two new mortgage refinance programs launching this summer should make it a little easier for lower-income borrowers to save on their home loan payments.
Starting on June 5, Fannie Mae will offer a product called Refi Now. Freddie Mac’s version, called Refi Possible, is set to launch on August 30. Borrowers with loans backed by Fannie or Freddie and who make 80% or less than their area’s median household income will qualify.