Freddie Mac..Who are they?

Freddie Mac is a Government sponsored enterprise (similar to Fannie Mae) established by the congress to keep America’s mortgage markets liquid, stable and affordable in all economic conditions. They operate as a shareholder owned, market driven business. Freddie Mac operates in the US secondary mortgage by buying loans from mortgage lenders thereby ensuring these lenders have funds to lend to home buyers at affordable rates.

Some facts:

• Financed housing for more than50 million families – that’s 1 in 6 homebuyers and more than 4 million renters.
• Financed nearly 3.3 million homes in 2007 alone.
• Helped more than 360,000 first-time homebuyers buy a home in 2007.
• Provided financing for nearly 600,000affordable apartment units in 2007.
• More than 50% of our mortgage purchases finance homes for low- and moderate-income borrowers.
• Average loan size is $185,000.

For more information on Charlotte Real Estate & Freddie Mac financed homes, please talk to your mortgage broker.