The United States Congress established Fannie Mae in 1938. They were found to provide a reliable and affordable way for low-income and moderate-income borrowers to obtain a mortgage. Fannie Mae can accomplish this by enabling access to affordable mortgages regardless of the market.
This company does not originate mortgages, and they do not give money…
If you put down less than twenty percent on a mortgage, you will also pay private mortgage insurance. This type of insurance is commonly referred to as PMI. PMI is different from homeowners insurance, which protects the physical property and your belongings in the case of damage.
Private Mortgage insurance is designed to…