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  • Multistate Adjustable Rate Note - Arm 5-2 (form 3502). Single-family - Fannie Maefreddie Mac

Get Multistate Adjustable Rate Note - Arm 5-2 (form 3502). Single-family - Fannie Maefreddie Mac

ADJUSTABLE RATE NOTE (1 Year Treasury Index Rate Caps) THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE AND MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT MY INTEREST RATE CAN.

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Conforming loans are mortgages that meet Fannie Mae and Freddie Mac guidelines. Conforming lenders underwrite and fund the loans and then sell them to investors like Fannie Mae and Freddie Mac. Once securitized, the loans are sold to investors on the open markets.

Loan Programs Fannie Mae offers the HomeReady loan, in which applicants cannot make more than 80% of the area's median income. On the other hand, Freddie Mac offers the Home Possible loan which requires that applicants cannot make more than the area's average income.

Fannie Mae and Freddie Mac Requirements Fannie Mae and Freddie Mac have similar qualification requirements, which include: Debt-to-income (DTI) ratio as high as 43% or 50% in some cases. Credit score of at least 640 or 620 in some cases. Down payment as low as 3%

All approved sellers/servicers must have and maintain a Lender Adjusted Net Worth of at least $2.5 million, plus a dollar amount that represents 0.25% of the UPB of the seller/servicer's total portfolio of 1-4 unit residential loans serviced.

They loaded up on subprime, interest-only, or negative amortization mortgages—loans more typical of banks and unregulated mortgage brokers. Fannie and Freddie made things worse by their use of derivatives to hedge the interest-rate risk of their portfolios.

The primary difference between Freddie Mac and Fannie Mae is where they source their mortgages from. Fannie Mae buys mortgages from larger, commercial banks, while Freddie Mac buys them from much smaller banks.

Who Files Form 3200? Form 3200 is the Multistate Fixed Rate Note. It must be completed by the borrower who confirms that the loan was received and that the interest and the principal amount will be paid to the lender ing to the agreement.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232