Beginning June 5th, Fannie Mae announced a new refinance option, RefiNOW. This new refinance option helps more homeowners reduce their monthly mortgage payments.
RefiNow™ is available for qualifying homeowners with a Fannie Mae-owned mortgage. It will allow:
- Allow existing subordinate financing to be simultaneously refinanced
- Permit borrowers who have resolved missed payments due to a COVID-19 forbearance to be eligible for a new RefiNow transaction
- Clarify paystub requirements to align with current documentation policies