Try Freddie Mac for a Home Loan or Mortgage Refinancing
by Kelly Richardson
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The Federal Home Loan Mortgage Corporation, or Freddie Mac, was established in 1970 by the United States government. This publicly traded company offers low to middle income families some good rates on both home loans and mortgage refinancing.
Freddie Mac is one of America's largest buyers of home mortgages. Their comprehensive web site claims that they have purchased one mortgage every seven seconds in the year 2004, helped finance one in six American homes, and provided affordable rental housing for nearly 4 million Americans. For an organization to reach such a high pinnacle of performance, there has to be benefits there for the borrower. Here are some of the ways that the Federal Home Loan Mortgage Corporation is able to assist you in acquiring a home loan or mortgage refinancing.
Freddie Mac Works for You
Despite all of the flack that the government usually receives, this is a federal initiative that has really done some good for the communities of this nation. Here is how Freddie Mac is able to give you such low home loan rates and a variety of mortgage refinancing options.
- » Financial Relief. Freddie Mac's unique market connections and lending formulae reduce the costs of financing a home loan significantly.
- » Lending Education. Freddie Mac also works to educate borrowers about the lending process through fee literature and on-site presentations.
- » More Opportunity. For low to middle income families, Freddie Mac increases their chances of finding affordable borrowing options.
How Freddie Mac Works
If you are a low to middle income family or you have had trouble securing a home loan or mortgage refinancing from other institutions, perhaps Freddie Mac can get you where you need to be.
- » What They Do. Freddie Mac produces mortgage products and purchases mortgages for securities investments backed by secondary markets.
- » Their Cut. Freddie Mac makes their profit on a lending transaction by charging a guarantor fee taken from interest payments.
About the Author
Kelly Richardson covers the real estate scene in major cities across the country. His articles appear in educational journals, periodicals, and e-zines.