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New FHFA refinance option could benefit 2 million lower-income borrowers

     
New FHFA refinance option could benefit 2 million lower-income borrowers

According to CNBC, starting this summer, eligible borrowers will be able to refinance their mortgage at a reduced interest rate and lower monthly payment. The Federal Housing Finance Agency, which oversees mortgage-backers Fannie Mae and Freddie Mac, estimates homeowners could save an additional $100 to $250 a month. 

“This new refinance option is designed to help eligible borrowers who have not already refinanced save between $1,200 and $3,000 a year on their mortgage payment,” said the agency’s director, Mark Calabria, in a public statement.

Continue reading New FHFA refinance option could benefit 2 million lower-income borrowers at Movement Mortgage Blog.

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