flgaland@gmail.com
    (386) 243-0124

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What Are Fannie Mae and Freddie Mac?

What Are Fannie Mae and Freddie Mac

You’ve heard of Fannie Mae and Freddie Mac – but do you know what they are?

It’s okay if you don’t. Actually, most people don’t – so we’ll explain it here.

What Are Fannie Mae and Freddie Mac?

Fannie Mae and Freddie Mac are government-sponsored enterprises that help people get mortgages.

Fannie Mae

Fannie Mae actually stands for the Federal National Mortgage Association, or FNMA.

Freddie Mac

Freddie Mac stands for the Federal Home Loan Mortgage Corporation, or FHLMC.

Together, Fannie Mae and Freddie Mac help people get mortgage loans. Neither actually makes loans, but they purchase other lenders’ loans on the secondary market. They package the loans into mortgage-backed securities and sell them to investors, such as hedge funds.

When these two companies buy banks’ loans, they flood the companies with cash. Then, the banks can turn that money around and let more buyers borrow money.

That helps buyers who might not otherwise qualify get home loans.

Fannie Mae and Freddie Mac own or guarantee nearly half of all the residential mortgages in the United States.

Are You Buying a Home or Land for Sale in Lake City?

If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.

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SW Mcgriff Ln & Kaman $248,535

SW Mcgriff Ln & Kaman Lake City, Florida

13.15 Acres

15585 184th St $549,900

15585 184th St McAlpin, Florida

2 Beds 2 Baths 1,130 SqFt 41.81 Acres

Posted in: Blog, Buyers, Buying, Florida Land for Sale, Mortgages Tagged: Buying a Home, Fannie Mae, Freddie Mac, Mortgage

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Search Smarter

Did you know the hottest North Florida land for sale often sells within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest land as they hit the market! Simply click the button below and choose the types of North Florida land you are looking for and save your search to start getting alerts today!

New Property Alerts

As a local expert, I also have access to North Florida land for sale before it hits the market and can show you more information that is only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact me contact me at your convenience. There is no obligation and or pressure... I hope to hear from you!

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