Understanding the Requirements for Fannie Mae-Backed Mortgages

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If you’re on the hunt for a new home, you’ve probably heard of the mortgage funding powerhouse Fannie Mae as you’ve started looking into your financing options for this life-changing purchase. Fannie Mae is a government enterprise that helps banks and credit unions provide loans to homeowners. As a potential home buyer, understanding how Fannie Mae works can help you better prepare to qualify for a new mortgage. Learn more about this long-standing institution by taking a look at our tips for applying and the requirements needed to get a Fannie Mae-backed mortgage.