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If you were approved to possess a traditional financial, it’s likely that the lending company then followed Federal national mortgage association advice to create the final decision. Fannie mae was a government-backed business one fuels the U.S. financial field by purchasing and you will selling lenders towards supplementary market.
Knowledge Fannie mae guidance and just how it profile antique financing standards will allow you to determine whether traditional financing suits you.
In this article
- What exactly is Fannie mae?
- Fannie mae recommendations to own antique mortgages
- Pros and cons of Fannie mae advice
- How to sign up for a federal national mortgage association home loan
- Federal national mortgage association recommendations if you cannot afford the home loan repayments