Are Fannie and Freddie Mac the only options for mortgages?

No you also have FHA and VA options. My bank goes down to a 580 credit score on FHA and VA financing ...... Give me a call Leonard Ujkic 214-432-9047 or visit my online application for Nations Lending Corporation @ http://irving.nlcloans.com/apply

Yes you could go FHA, VA, USDA or possibly subprime.Barclay Butler, 224-420-9990. bbutler@barclaybutlerfinancial.com

And not only FHA and VA, there are specialized and "hard money" loans. I also offer a variety of loans, down to below 580 FICO in many cases. With over affiliated lenders, we can most likely get the best loan for you. Jeff Thirey, Great Mortgage Company, 630-253-9915, jthirey@greatmortgagecompany.com or http://www.greatmortgagecompany.com/

The five "big" and most common underlying loan programs are "Fannie Mae, Freddie Mac, FHA, VA, and USDA" loans. With that said, technically any bank or lender can come up with whatever program they feel like offering, and a few do. Generally those non-traditional loans come with higher rates, bigger down payments, and terms that most people don't like. There is a big reason why most people stick to the five big traditional options.