Can you mortgage a home without fannie or freddie?

Hi Pete: Fannie or Freddie is an option that the lender you use determines after your loan is closed. The decision is based on whether the best loan for you is a government FHA or a conventional loan based on your situation. The decision is based on your preferences after a full review of your situation and what will be the best results for you after closing. Government loans are designed for folks in the lower income tiers that may not have resources to put 20% or more down on a purchase. .You can typically get an FHA loan for 3.5% down but that is offset by higher mortgage insurance fees that last for the lifetime of the loan. A Freddie or Fannie loan requires at least 5% down but has a lower MI fee which can be removed under certain circumstances after 2 years. Which loan is in your best interests really depends on your whole financial history and can only be determined after a complete review of your history and finances by an experienced loan originator. I have been in the business for the last 2 years 25 years. Gateway Funding is a premier lender in Northeast PA licensed in all the surrounding states. I can help you if you wish. If not I wish you well in your search.Leo <>

Sure... There are lots of options. Fannie Mae and Freddie Mac backed loans are some of the most popular for a variety of reasons, and if you qualify, generally give most people in most circumstances the best deals... But as everyone is different, you need to sit down with your local mortgage broker to discuss your personal situation to discover the best deal for you. www.SaintPaulMortgageBroker.com

Sure. You have FHA as an option. If you want to explore that option, call me at 410-683-1500. I'd be happy to help.

of course you can, there are options, is there a reason you don't want to use Fannie or Freddie? Call us or email us at 800-991-5309 or Team@BestMortgageOption.com for a no cost no obligation analysis of your situation ask for Michelle or Benny. We will find the Best Mortgage Option to suit your needs! Check us out at www.BestMortgageOption.comAsk us about the awesome discounts we offer heroes as a Homes for Heroes affiliate!

I'm not sure what your aversion to Fannie or Freddie might be, perhaps you have a unique property or out of the box personal situation. What you are seeking is called a portfolio loan. I'd suggest talking to a small or mid size regional bank or credit union in your community or checking with some local mortgage brokers and asking if they have any portfolio programs. Sorry I only lend in Colorado or I would be happy to discuss our portfolio programs.

Depending on area you are purchasing your home you may be able to qualify for a USDA loan.- Been in the Military? VA maybe an option- Is this a unique property,or is there an issue with going Fannie or Freddie? If so, contact your local community bank- They maybe be able to lend as a portfolio loan.