Sunday, August 22, 2010

How is Freddie Mac different as a mortgage lender than traditional lenders?

I see that Freddie Mac is a government-sponsored mortgage lender and promotes safe and responsible borrowing. Has anyone had experiences with them? Would I be more likely to be able to qualify for a house with them? Are there certain reasons for choosing them vs. traditional lenders?How is Freddie Mac different as a mortgage lender than traditional lenders?
Freddie Mac does not give you a mortgage directly as a ';traditional lender'; does. Instead, Freddie Mac buys the mortgages that you get from traditional lender, who processes your application and gives you the mortgage. You cannot apply for a mortgage directly to Freddie Mac.

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