refinance

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Our Business Is The American Dream® At Fannie Mae, we are in the American Dream business. Our Mission is to tear down barriers, lower costs, and increase the opportunities for homeownership and affordable rental housing for all Americans. Because having a safe place to call home strengthens families, communities, and our nation as a whole.
Table of Contents Owning your own home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 How this guide can help you . . . . . . . . . . . . . . . . . . . . . . . . . . 3 When does it make sense to refinance? . . . . . . . . . . . . . . . . . 4 Being eligible to refinance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Reasons for refinancing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 What is involved in refinancing a mortgage? . . . . . . . . . . . . . . 10 Information the lender will need . . . . . . . . . . . . . . . . . . . . . . . . 10 Costs involved in refinancing . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 No- or low-cost refinance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 How do I determine what’s best for me? . . . . . . . . . . . . . . . . . 14 What type of mortgage loan should I get? . . . . . . . . . . . . . . . . . 15 Comparing mortgage loan terms among lenders . . . . . . . . . . . . 17 Fixed-rate mortgage comparison chart . . . . . . . . . . . . . . . . . . . 18 Checklist of fixed-rate mortgage shopping terms . . . . . . . . . . . 20 Adjustable-rate mortgage comparison chart . . . . . . . . . . . . . . . . 22 Checklist of adjustable-rate mortgage shopping terms . . . . . . . . 22 Is now the best time to refinance? . . . . . . . . . . . . . . . . . . . . . 24 Refinance cost recovery worksheet . . . . . . . . . . . . . . . . . . . . . . 26 Call Fannie Mae toll free . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 1
Page 1: Is now a good time to refinance?
Page 5 and 6: How this guide can help you determi
Page 7 and 8: Reasons for refinancing To get a lo
Page 9 and 10: mortgage payment will be for the li
Page 11 and 12: When thinking about a cash-out refi
Page 13 and 14: About your present mortgage The len
Page 15 and 16: or limit mortgage prepayment penalt
Page 17 and 18: What type of mortgage loan should I
Page 19 and 20: in which you will get a lower month
Page 21 and 22: Lender 1 Lender 2 Lender 3 19
Page 23 and 24: Headline type here Headline type he
Page 25 and 26: Lender 1 Lender 2 Lender 3 4. Rate
Page 27 and 28: If this length of time is longer th
Page 29: Call Fannie Mae toll free Headline

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