Freddie Mac and Fannie Mae Loan Lookup | First Heritage Mortgage (2024)

FAQs

How do I know if my loan is backed by Fannie Mae or Freddie Mac? ›

Visit the Fannie Mae Loan Lookup tool or the Freddie Mac Loan Look-Up tool on their respective websites. Enter your personal information, such as your name, address and the last four digits of your Social Security number to verify your identity.

All loans backed by Fannie Mae and Freddie Mac are typically conventional loans, which are not insured by the government. Though they are referred to as “conventional” or “conforming” loans, there are differences in the companies' guidelines.

Property sales records

This can give you a history of any increases in property costs over time. Usually, you can find out who the current owner is and how much they still owe on their mortgage too. You might have to pay a small fee to get a report from your recorder's office.

Fannie /Freddie loans require a minimum FICO credit score of 620 to qualify, but the approval process for applicants with credit scores between 620 and 660 may take longer than higher scores. A 20% down payment is not the only option! You can put down as little as 3%.

Non-conforming mortgages don't meet Fannie Mae and Freddie Mac's rules. Examples of non-conforming loans are jumbo and government-backed loans, including FHA, VA, and USDA. These loans are still good, reliable mortgage programs that have helped millions of people become homeowners.

Your mortgage lender or mortgage servicer is the best resource for questions about your mortgage loan. Fannie Mae provides some helpful information: Visit our Loan Lookup Tool to learn whether Fannie Mae owns the mortgage on your home.

Your credit report will show a list of all your reported balances, alongside who owns the debt and the amount due. You can review your Experian credit report for free at any time.

This can typically be done online through the county assessor 's website or in person at the county recorder 's office . These records will show any liens or mortgages on the property . Another option is to hire a title search company or a real estate attorney to conduct a title search on the property .

To view your mortgage balance in online banking, log in to view your list of accounts and click your mortgage account to view more information including your current balance and original mortgage amount.

The Mortgage must have a minimum Indicator Score of 620. If no Borrower has a usable Credit Score, then the Mortgage does not have an Indicator Score and is not eligible for delivery to Freddie Mac.

What is the Freddie Mac minimum loan amount? ›

The Freddie Mac Small Balance Loan program has a minimum loan amount of $750,000 and a maximum amount of $7.5 million. Additional Requirements for Small Balance Loans Over $6 Million and Multifamily Freddie Mac Loans.

As of 2023, Fannie Mae and Freddie Mac support around 70 percent of the mortgage market, according to the National Association of Realtors. That means the majority of conventional loans, those offered by private lenders, end up being backed or purchased by one of the two entities.

Fannie Mae is happy to buy mortgages from lenders — but not every mortgage. For Fannie Mae and Freddie Mac to be able to re-sell loans, they need to be considered safe investments. That means each mortgage must meet certain requirements or “guidelines.”

If you want to find out whether your loan is federally back, you can use the Freddie Mac or Fannie Mae lookup tools. You can also call your loan servicer to ask (they are required by law to tell you). If you have questions about whether you can get a federally-backed loan, talk to Integrity First Lending today.

Fannie Mae and Freddie Mac are large companies that guarantee most of the mortgages made in the U.S. Together, they are also known as the government sponsored enterprises (GSEs). Historically, they were private companies operating with government permission and under government regulation.