Fannie Mae RefiNow™ is a mortgage refinancing program offered by Fannie Mae, a government-sponsored enterprise that provides liquidity and stability to the U.S. housing market. The program is designed to help eligible homeowners refinance their mortgage loans and lower their monthly payments, especially those who have been impacted by the COVID-19 pandemic.
To be eligible for the Fannie Mae RefiNow™ program, homeowners must meet certain criteria, such as having a mortgage that is owned by Fannie Mae, having a maximum debt-to-income ratio of 65%, and having a credit score of at least 620.
One of the key features of the program is that it offers a $500 credit towards appraisal fees for eligible homeowners, which can help reduce the overall cost of refinancing. Additionally, the program allows for a maximum loan-to-value ratio of 97%, which means that homeowners may be able to refinance even if they have limited equity in their homes.
If you are a homeowner who is struggling to make your mortgage payments or simply looking to lower your monthly payments, you may want to consider the Fannie Mae RefiNow™ program as an option for refinancing your mortgage loan.
Arigato Capital specializes in helping borrowers with this historic refinancing opportunity and will guide you through the entire loan process.
Comments