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Mortgage Professor about conventional loans: | |||||||||||||||||||||||
Who Should Take an FHA Mortgage?
April 24, 2000, Revised October 31, 2002, March 14, 2003, September 7, 2004 "We recently purchased a home with 20% down, with mortgage insurance provided by the Federal Housing Administration (FHA). When we closed on it, we were ... more... Co-Signing a Mortgage: How Much Help? 6 July 2004 "Can I borrow more if I have a co-signer, who won?t live in the house but has much better credit than me?" A co-signer with good credit cannot overcome your bad credit. Where the income used to qualify comes from more than one person, the lower of the ... more... |
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conventional loans related definitions |
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Freddie Mac
Freddie Mac Federal Home Loan Mortgage Corporation (FHLMC) also called "Freddie Mac" - a quasi-governmental, federally sponsored organization that acts as a secondary market investor to buy and sell mortgage loans. FHLMC sets many of the guidelines for conventional ... more... Fannie Mae, FNMA Fannie Mae (FNMA) A private and tax-paying corporation created by Congress that acts as a secondary market investor to buy and sell mortgage loans. FNMA sets many of the guidelines for conventional mortgage loans, as does FHLMC. Fannie Mae purchases and sells conventional ... more... |
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