What types of loans does Fannie Mae support?

Fannie Mae supports a variety of loan programs designed to meet the diverse needs of borrowers. One of the most prominent types is the conventional loan, which is not insured or guaranteed by the federal government. Within this category, Fannie Mae offers fixed-rate mortgages and adjustable-rate mortgages, allowing borrowers to choose a term and interest structure that best fits their financial situation. Another key program is the HomeReady mortgage, aimed at low-to-moderate income borrowers, which offers flexible underwriting and lower down payment requirements. The HomePath mortgage program is designed specifically for purchasing Fannie Mae-owned properties, providing exclusive financing options for these listings. Fannie Mae also supports loans for specialty purposes, such as refinancing existing mortgages or investment properties. It is important for borrowers to research the specific requirements and benefits of each loan type to determine which option may be the most suitable for their needs. For detailed information on current loan offerings and their eligibility criteria, it is recommended to visit Fannie Mae's official website.