Fannie Mae, Freddie Mac, what's the difference? Who cares? All you need to know is they are pretty similar and together they make up the bulk of mortgage lending in this country, and there are a few slight differences that make one or the other the go-to loan for your needs. Here's what Freddie can do:
* Non occupant co-borrowers to qualify income OK
* One year tax returns allowed
* Revolving debts can be paid and excluded but not closed
* DTI allowed up to 50%
Hope that helps. Feel free to contact me if you have any questions at 949.667.2887 or firstname.lastname@example.org.
- Brian Nguyen is a senior loan consultant (NMLS 659743) who learned more about this stuff than he ever intended to. The opinions expressed here are solely his own.