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What Are The Differences Between Fannie Mae, FHA And Freddie Mac
Manage episode 435463669 series 3555433
Melinda Payan에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Melinda Payan 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Welcome to Mortgages with Melinda! Today, we're unraveling the complexities of Fannie Mae, Freddie Mac, conventional loans, and FHA loans. Confused about these terms? You're not alone.
Let's start with conventional loans. Think of them like hamburgers — whether it's Burger King, McDonald's, or Wendy's, they're all burgers. Similarly, Fannie Mae and Freddie Mac are both types of conventional loans overseen by the Federal Housing Finance Agency, not the government directly, but with government-guided guidelines.
Now, MLS listings often mention conventional financing, meaning they accept Fannie Mae or Freddie Mac loans. The slight differences lie in how they handle specifics like student loans or condos, details your loan officer can help navigate.
Moving on to FHA loans—they're not just for first-time buyers. FHA stands for Federal Housing Administration, backed by HUD. Unlike conventional loans, FHA loans are insured by the government, offering lower rates and more flexibility, but with specific eligibility criteria tied to government obligations.
Understanding these distinctions helps you choose the right path—whether FHA for lower rates or conventional for different qualifying factors. Stay tuned as we delve deeper into mortgage insights to empower your decisions as a homeowner or future buyer.
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