Who are Fannie Mae & Freddie Mae and why should this be important to WNY home owners? 5

Fannie Mae and Freddie Mac are publicly-owned agencies overseen by the Federal Government. Fannie and Freddie have very simple and direct mission statements:

To make sure that mortgage monies are available to homeowners who are looking for cost-effective home loans.

Western New York homeowners do not borrow directly from these agencies. Instead, Fannie and Freddie’s key role for a home buyer in WNY is to purchase mortgages from lending institutions; whether they are local or national – which make loans to Western New York home buyers.

So, to some extent, for the Western New York Real Estate Market, Fannie Mae and Freddie Mac are a ready, willing and able source of mortgage money flowing into the local market. Fannie Mae and Freddie Mac have strict guidelines outlining the specific types of home loans they will acquire from banks and other lenders.

Read Also:

Real Estate Resources for you:

Need assistance in purchasing your Western New York home? Call the Best Buffalo Homes Team at (716) 650-0051 today for an appointment to discuss your Real Estate needs.

Blog Widget by LinkWithin

About Colleen Kulikowski, Associate Real Estate Broker (716) 650-0051

Colleen Kulikowski is an Associate Real Estate Broker with J. Philip Real Estate specializing in Western New York residential homes who doesn’t follow trends; she blazes new trails and is able to recognize industry trends and implement them to her client’s best interest. Colleen has created a unique following with one of the top local internet positions in the country generating thousands of leads for her team. Real Estate is a second career for Kulikowski who’s first career was in Information Technology and Data Warehousing working for such companies as Radio City Music Hall, Nabisco Foods and as a consultant in the Financial and Insurance industries. A strong background in technology and management provides her with keen analytical and sharp negotiating skills.