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Fannie Mae vs. Freddie Mac: What’s the Difference?

Fannie Mae and Freddie Mac are major players in the mortgage market. Here’s how it affects you.


[Updated: Aug 23, 2021 ] Aug 23, 2021 by Aly J. Yale

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FANNIE MAE FREDDIE MAC
FOUNDED 1938 1970
TYPES OF LOANS THEY BUY Conventional, conforming Conventional, conforming
LENDERS THEY BUY FROM Large, commercial banks Smaller banks and credit unions (thrifts)
LOAN PRODUCTS HomeReady, 97% LTV, HFA Preferred, HomeStyle Renovation, Construction Loans, HomeStyle Energy, Manufactured Housing, Shared Equity/Homebuyer Assistance Programs, Native American Lending, RefiNow, High LTV Refinance, Adjustable Interest Rate Mortgages Home Possible, ChoiceRenovation, Enhanced Relief Refinance, Home One, Condo Unit Mortgages, Cash-out Refinance, No Cash-out Refinance, Super Conforming, Manufactured Homes, Affordable Seconds, CHOICEHome, CHOICEReno eXPress, Adjustable Interest Rate Mortgages, Community Land Trust Mortgages, Construction Conversion, Financed Permanent Buydowns, GreenChoice, and More

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