The Freddie Mac Answer To A Stuck Refinance.
Refi Possible is built for homeowners at or below the area median income whose loan is owned by Freddie Mac.
A refinance with the benefit written into the rules
Refi Possible has to lower both your rate and your payment to qualify.
- Your total income must be at or below 100% of the area median income for your area.
- The mortgage you have now must be owned by Freddie Mac.
- The new loan must reduce your interest rate by at least half a percentage point.
- It must also reduce your monthly payment, including principal, interest and mortgage insurance.
- The property must be your primary residence and a single-family attached or detached home.
- Two- to four-unit properties are not eligible.
Primary residence only
Income at or below area median
Existing loan owned by Freddie Mac
Rate must drop by at least half a point
Monthly payment must go down
Single-family homes only
What is the Saxton Refi Possible Refinance?
Freddie Mac’s refinance for households the standard process tends to leave behind.
Refi Possible is Freddie Mac’s program for homeowners on a modest income who would benefit from refinancing but keep running into the cost and the qualifying rules. It is a conventional refinance, and the difference is that the program will not let the new loan be a lateral move.
To be eligible, the refinance has to lower your interest rate by at least half a percentage point, and it has to reduce your monthly payment once principal, interest and mortgage insurance are all counted. Both conditions, not one. That is unusual, and it is the point of the program.
It applies to primary residences that are single-family attached or detached homes. Two- to four-unit properties are outside it. Your income needs to be at or below the area median where you live, and Freddie Mac needs to own your current mortgage, which is something we can confirm quickly.
Why choose the Saxton Refi Possible Refinance?
For owners whose current loan is with Freddie Mac and whose income sits at or below the local median.
Improvement Is The Rule
The program is designed so that a refinance which does not clearly help you is not an eligible refinance at all.
Income Limit Works For You
Being at or below the area median income is what qualifies you here, rather than something you have to overcome.
Rate And Payment Together
Half a percentage point off the rate, and a lower monthly payment with mortgage insurance included. Both have to be true.
The Freddie Mac Counterpart
If your loan is owned by Fannie Mae instead, RefiNow is the equivalent. We check which applies before going further.
A Quick First Check
Confirming who owns your loan takes very little time, and it decides whether this conversation is worth having.
Two Programs, One Question
Whether Refi Possible or RefiNow applies comes down to who owns your current mortgage, and that is the first thing we look up.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about the Refi Possible program.
Your servicer and the owner of your loan are often two different companies, so it is not something most people know offhand. There is a lookup for it and we are happy to run it for you.
They are near-identical programs from the two agencies. Refi Possible is Freddie Mac’s and RefiNow is Fannie Mae’s. Which one applies depends entirely on who owns your current mortgage.
At least half a percentage point. That floor is written into the program to keep marginal refinances out.
Yes. The monthly payment has to come down when principal, interest and mortgage insurance are counted together.
Your total income must be at or below the area median income figure published for your area, so the exact threshold depends on where the home is.
No. This program is for your primary residence only.
Those are not eligible here, but we have other refinance programs that work for multi-unit properties.
Find out what you qualify for
If Freddie Mac owns your mortgage and your income is at or below the area median, this may be the refinance that finally makes sense. Let us check.
Get Pre-Qualified*Loan amounts, rates, terms, and eligibility are subject to credit approval, income and asset verification, and program guidelines. Refi Possible requires the existing loan to be owned by Freddie Mac, borrower income at or below the applicable area median income, and a resulting reduction in both interest rate and monthly payment. Primary residence only. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.