Consumption and Real Estate
does my mortgage have to be backed my Freddie Mac to qualify for lower refinance rates?
Question : does my mortgage have to be backed my Freddie Mac to qualify for lower refinance rates?
I have a mortgage from Bank of America. Can I refinance with the new GOVT asst rates if my mortgage is not a freddie or fannie mortgage?
refinance mortgage rates
Best answer:
Answer by golferwhoworks
if it is with Bof A it is backed by either Fannie or Freddie FHA VA
as long as you can qualify for the new loan it doesn’t matter what your current mortgage is or who backs it. if you want a govt backed loan (like fha) you have to qualify and the property needs to be your personal residence.