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Freddie Mac Repo Homes

What is Freddie Mac?

Freddie Mac, officially known as the Federal Home Loan Mortgage Corporation (FHLMC), is a government sponsored enterprise playing a key role in the secondary mortgage market. Many homebuyers are not even aware of FHLMC or what it does, but this agency actually promotes ownership of real estate across the country. The Federal Home Loan Mortgage Corporation buys mortgages from lenders such as banks. The agency then combines the mortgages into bundles of thousands of home loans, creating a security that can be traded. Investors buy and sell these securities to make a profit.

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Buying Mortgages

The reason the FHLMC sells mortgages is because it gives lenders an additional source of revenue from home loans. The rationale is that lenders will sell mortgages and use the money they make this way to finance more home loans. Therefore, lenders have more money to lend and are therefore able to offer more home loans to homebuyers of every income and credit rating.

The FHLMC is often discussed alongside Fannie Mae, or the Federal National Mortgage Association (FNMA). This is another government sponsored enterprise that secures home loans offered by lenders.

Benefits of the FHLMC

The FHLMC does not offer home loans to homebuyers directly but you have likely already been affected by the work of this agency. According to the FHLMC's web site homebuyers enjoy easier access to home loans and lower monthly mortgage bills thanks to the agency. The FHLMC's work may not be clearly visible to most homebuyers, but you have likely felt the impact of this agency if you have ever gotten a mortgage or made a mortgage payment. Without the Federal Home Loan Mortgage Corporation, far fewer Americans would qualify for or would be able to afford a mortgage.

Buying Smart with FNMA and FHLMC

Although Freddie Mac repo home buying is more affordable, you still want to get the best deals on your property purchase to enjoy the lowest mortgage payments. Repo-Homes.com can help, by offering you the best selection of repo properties across the country. Our listings of repo homes show you exactly where and how you can buy real estate at up to 50% below market value. Our listings are updated each day and we offer an impressive selection of resources for members so that you have all information you need at your fingertips.

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