Nashville Real Estate | Freddie Mac Requires 5% Down Payment
The Relief Refinance Mortgage Program is Freddie Mac's response to HARP (Home Affordable Refinance Program) and offers mortgages that better positions the homeowner for success. You have the ability to refinance your mortgage with your current lender or another qualified lender in this refinance program. The Relief Refinance Mortgage is intended to help borrowers who are current on their mortgage payments and have been unable to refinance because of declining property values. According to Freddie Mac's Primary Mortgage Market Survey, 30 year fixed mortgages are averaging 4.87% with 0.7 points and the 15 year fixed mortgages are averaging 4.15% with 0.7 points. These averages are for conforming mortgages with 20% down.