A&D Mortgage is proud to offer new conventional refinance options from Fannie Mae and Freddie Mac to assist lower-income families to build stronger communities, build equity and remove more barriers to homeownership. The Fannie Mae Refi Now and Freddie Mac Refi Possible programs are new rate/term refinance options for low-income borrowers with an existing Fannie Mae or Freddie Mac loan who may not have already taken advantage of refinancing in this historically low-rate environment

Fannie Mae Refi Now / Freddie Mac Ref Possible Program Highlights:

• Designed for lower-income families
• Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
• Lowers interest rate by 0.5% and monthly payment by at least $50
• Minimum 620 FICO
• Maximum 97% LTV
• Income at or below 80% of the area median income (AMI)
• Borrower will receive $500 credit at closing if they have an existing appraisal
• Maximum DTI 65%
• Roll up to $5,000 in closing costs for those with limited cash to close with cash-out limited to $250
• Reduced Documentation requirements