Dec

11

Denver’s relationship with Fannie and Freddie on the rocks

Filed Under mortgage 

Denver’s relationship with Fannie Mae and Freddie Mac hits the rocks:

The chief executives of Fannie Mae and Freddie Mac on Tuesday warned that their ailing mortgage-finance companies will suffer further in 2008 because of a weakening housing market and rising home-loan defaults.

Read the full article: Freddie and Fannie: More woes in 2008

Metro Denver’s designation as a “declining market” could delay any recovery in the area’s long-suffering residential real-estate market, local housing experts said Tuesday.

Read the full article: Fannie label on Denver ominous

What does this all mean: Putting 5% down is the norm to get a Fannie Mae or Freddie Mac loan. They do have several high risk 100% loans but these loans have higher rates with higher levels of mortgage insurance.

FHA only requires 3% down.

Some companies will have 100% down programs it just remains to be seen who.

Is your rate too high? If you're looking to compare mortgage rates or to get a rate quote on a FHA loan start here


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One Response to “Denver’s relationship with Fannie and Freddie on the rocks”

  1. Home Equity Loan: Low Interest Rate Mortgage Loan » Denver’s relationship with Fannie and Freddie on the rocks on December 12th, 2007 8:17 pm

    […] admin had some great ideas on this topic.You can read a snippet of the post here.The chief executives of Fannie Mae and Freddie Mac on Tuesday warned that their ailing mortgage-finance companies will suffer further in 2008 because of a weakening housing market and rising home-loan defaults. … […]

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