Answered

At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

quizlet joe's applying for a mortgage that meets all of the fannie mae/freddie mac criteria. based on this, how would we classify this loan?

Sagot :

Tundexi

This loan is best classify as a conventional mortgage loan.

What is a conventional mortgage loan?

This refers to a conforming loan which simply means that it meets the requirements for Fannie Mae or Freddie Mac.

This type of mortgages have a fixed rate of interest and means that the interest rate does not change throughout the life of the loan. Also, they are not guaranteed by the federal government and as a result have stricter lending requirements by banks and creditors.

In conclusion, the entities Fannie Mae and Freddie Mac are government-sponsored enterprises that purchase mortgages from lenders and sell them to investors.

Read more about mortgage loan

brainly.com/question/22598793

#SPJ1

Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.