The mission of the U.S. Dept. of Housing and Urban Development (HUD) is to increase homeownership, support community development and increase access to affordable housing free from discrimination. To fulfill this mission, HUD forges new partnerships–particularly with faith-based and community organizations–that leverage resources and improve HUD’s ability to be effective on the community level.
Nine Steps to Buying a Home:
If you are considering buying a home, take the time to read the nine steps to buying a home.
Buying a Home from Freddie Mac:
When Freddie Mac financed homes go into foreclosure, Freddie Mac resells them to low and moderate income borrowers, marketing them through its website Homesteps. At any time, HomeSteps has thousands of homes available for sale in neighborhoods across the United States. These include single-family homes, condominiums, townhomes and more.
If you are considering buying a Freddie Mac owned home, take the time to research the property, the neighborhood and your financing options. The Cooper Square Committee can direct you to housing service organizations in the community where the property is located, and they can assist you in determining whether you are qualified to buy a home, and they can help you give you tips about inspecting the property, researching the community and exploring financing options.
The mission of the Federal Home Loan Mortgage Corporation (Freddie Mac) is to provide liquidity, stability and affordability to the housing market. Congress defined this mission in its 1970 charter.
Freddie Mac makes sure there’s a stable supply of money for lenders to make the loans new homebuyers need. This gives everyone better access to homefinancing, raising the roof on homeownership opportunity in America. Financing housing for low and moderate income families has been a key part of Freddie Mac’s business since it started. Freddie Mac’s vision is that families must be able both to afford to purchase a home and to keep that home.
About Fannie Mae Homes:
Fannie Mae works with all of its partners to help homeowners prevent and avoid foreclosure; however, sometimes it is unavoidable. When foreclosures occur on mortgages in which Fannie Mae is the investor, it works to sell properties in a timely manner in order to minimize the impact on the community.
What kinds of properties are available in the Fannie Mae HomePath database?
Fannie Mae’s HomePath database includes only properties that are owned by Fannie Mae. There is a wide selection of homes, including single-family homes, condominiums, and town houses—located in a variety of neighborhoods. The number, types and the sales prices of the homes that are offered for sale may vary substantially. Many of these homes are relatively new; however, older homes are offered in some areas. Some homes may require repairs. If you are thinking of buying a Fannie Mae owned home, you should carefully research the property and neighborhood, and the financing products available to you.