Fannie Mae Loans

Building your Dream house. Many People who buy Land often have a hard time financing the purchase of a piece of property with no existing structure on it . Often time Banks and lending institutions don’t want to loan money for Land only without an exiting house or on the actual property.Building a new house on land requires financing for construction. How do construction loans work ? These loans are not offered by every lending institution. Many large mortgage companies like fannie mae lend for existing houses already.

.Many banks or credit unions will finance the land only purchase as they understood the local market and said it would require a down payment of 30-40%

Finding a bank or financing for a Construction only loan can also be challenging. Meaning If you own the Land already but with no house on it, which banks willlend you money to put a house up?

Construction Loan Interest Rates
Construction Loan Rate
Indymac Construction Loan
Residential Construction Loan
Wells Fargo Loans

1. Mortgage borrowers face litany of questions
A big reason lenders are being careful is that they fear they'll have to buy back loans from Fannie Mae or Freddie Mac if proper underwriting standards aren't adhered to and the loans go bad after being securitiz ...
(http://www.trulia.com/blog/tomramsey/2012/05/mortgage_borrowers_face_litany_of_questions)

2. Mortgage Modification and Refinancing Under the Making Home ...
In 2009, the federal government unveiled the Making Home Affordable program to help homeowners stay in their houses and avoid foreclosure. If your loan is owned or controlled by Freddie Mac or Fannie Mae, and you're ...
(http://www.thompson.law.pro/2012/05/mortgage-modification-refinancing-under-making-home-affordable-program/)

3. President Obama Announces Impact of October Refinancing Actions ...
That's why, in October of 2011 the President announced, as part of his We Can't Wait effort, that Fannie Mae or Freddie Mac (GSEs) and their regulator, the Federal Finance Housing Agency (FHFA), would work with l ...
(http://jackienapper56.typepad.com/blog/2012/05/president-obama-announces-impact-of-october-refinancing-actions-calls-on-congress-to-act-on-to-do-list.html)