Yes, it is possible to refinance a mortgage through Fannie Mae, provided that certain eligibility criteria are met. Fannie Mae offers various refinancing options, including the standard refinance and the streamlined refinance. The streamlined refinance, often referred to as the Fannie Mae Home Affordable Refinance Program, is designed for borrowers whose homes have lost value and who need assistance in refinancing without extensive documentation or credit score requirements.
To qualify for a refinance with Fannie Mae, the mortgage must be owned or guaranteed by Fannie Mae, and the borrower should demonstrate sufficient income and a consistent payment history. It is also essential to note that there may be specific limits and conditions associated with the refinance process. For the most accurate and up-to-date information regarding eligibility and specific options available, it can be helpful to visit Fannie Mae's official website.
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