The Fannie Mae RefiNow can help lower income borrowers with a conventional mortgage to decrease monthly payments and help make homeownership more sustainable.
Available to borrowers at or below 100% of the area median income
DTI up to 65%
No minimum credit score required
LTV <95% is permitted
Provides $500 credit when an appraisal is obtained
Limited to one-unit, principal residence properties
Existing loan must be a conventional mortgage loan owned or securitized by Fannie Mae
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