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Affordable Mortgage Lending Center

Federal Agencies and Government Sponsored Enterprises Programs & Products

Quick Links provides easy access to specific affordable housing programs from federal agencies and the government sponsored enterprises. These programs include guarantee, loan purchase, and subsidy programs that can facilitate mortgage lending by insured depository institutions. It includes programs and products that support home purchase, refinance, manufactured housing, and some home improvement lending by banks. Below you can find direct links to specific HUD/FHA loan programs, USDA rural housing programs, VA, and CDFI Fund programs, as well as Fannie Mae and Freddie Mac products for affordable housing.

While home ownership continues to be a goal for most Americans, many people struggle to gain access to affordable homeownership opportunities. Community banks can, and do, play a valuable role in meeting the demand for affordable mortgage credit. This matrix provides useful information to assist bankers in considering all the options to serve their communities with prudently underwritten and affordable mortgage products.

AgencyProgram NameLow and Moderate IncomeFirst Time HomebuyerPurchaseRefinanceRehabilitation/ RepairsManufactured HomesNative AmericansVeteransVictims of a DisasterRuralSeniorsPersons With DisabilitiesPublic Servants
DOI/Bureau of Indian AffairsHousing Improvement Program

 

 

 

 

 

 

X

 

 

 

 

 

 

DOI/Bureau of Indian AffairsTrust Land Mortgages

 

 

 

 

 

 

X

 

 

 

 

 

 

HUD/ FHAFHA Title I: Property Improvement Loan Insurance

 

 

 

X

X

 

 

 

 

 

 

X

 

HUD/ FHAFHA Title I: Manufactured Home Loan Insurance

X

 

X

X

 

X

 

 

 

 

 

 

 

HUD/ FHAFHA Title II: 203(b) Mortgage Insurance Program

X

X

X

X

 

 

247 & 248

 

203(h)

 

 

 

 

HUD/ FHAFHA Title II: Streamline Refinance

 

X

X

X

 

 

247 & 248

 

203(h)

 

 

 

 

HUD/ FHAFHA Title II: 203(k) Rehabilitation Mortgage Insurance

 

X

X

X

X

 

 

 

 

 

 

 

 

HUD/ FHAHome Equity Conversion Mortgage (HECM)

 

 

 

X

 

 

 

 

 

 

X

 

 

HUD/ FHAHUD 184 Indian Home Loan Guarantee

X

 

X

X

X

 

X

 

 

 

 

X

 

HUD/ FHAHUD Good Neighbor Next Door

 

 

X

 

 

 

 

 

 

 

 

 

X

USDASingle Family Housing Guaranteed Loan Program

X

X

X

X

X

X

 

X

 

X

 

X

 

USDASingle Family Direct Loans

X

X

X

 

X

Variation

 

 

Variation

X

 

X

 

USDASingle Family Housing Repair Loans and Grants

X

 

 

 

X

 

 

X

 

X

X

X

 

VAHome Purchase Loan Program

 

X

X

 

X

X

Tribal Land

X

 

 

 

X

 

VAInterest Rate Reduction Refinance Loan

 

 

 

X

 

 

 

X

 

 

 

X

 

VACash-out Refinance Loan

 

 

 

X

 

 

 

X

 

 

 

X

 

VANative American Direct Loan

 

 

X

X

 

 

X

X

 

 

 

X

 

CDFI FundBank Enterprise Awards

X

 

X

X

X

X

 

 

 

 

 

X

 

CDFI FundCDFI Program

X

 

X

X

X

X

X

 

 

 

 

 

 

CDFI FundCDFI Bond Guarantee Program Benefits

X

 

X

X

 

X

 

 

 

 

 

 

 

CDFI FundNative Initiatives Benefits

X

 

X

X

X

 

X

 

 

 

 

 

 

CDFI FundCapital Magnet Fund

X

 

X

 

X

X

 

 

 

 

 

 

 

Fannie MaeHomeReadyTM Mortgage

X

X

X

X

 

X

 

X

 

 

 

X

X

Fannie MaeStandard 97 Percent Loan-To-Value Mortgage

X

X

X

X

 

 

 

 

 

 

 

 

 

Fannie MaeHFA Preferred

X

 

X

X

 

X

 

 

 

 

 

 

 

Fannie MaeHomeStyle® Renovation Mortgage

 

 

X

X

X

 

 

 

 

 

 

X

 

Fannie MaeHomeStyle Energy

 

 

X

X

X

 

 

 

X

 

 

 

 

Fannie MaeStandard Manufactured Housing Mortgage

 

 

X

X

 

X

 

 

 

 

 

 

 

Fannie MaeMH AdvantageTM

 

 

X

X

 

X

 

 

 

 

 

 

 

Fannie MaeShared Equity Programs

X

 

X

X

 

 

 

 

 

 

 

 

 

Fannie MaeNative American Homeownership

X

 

X

X

X

 

X

 

 

 

 

X

 

Fannie MaeRefiNow

 

 

 

X

 

 

 

 

 

 

 

 

 

Fannie MaeHigh LTV Refinance Option (HIRO)*

 

 

 

X

 

 

 

 

 

 

 

 

 

Freddie MacHeritage One

 

 

 

 

 

 

X

 

 

 

 

 

 

Freddie MacHomeOne

 

X

X

X

 

 

 

 

 

 

 

 

 

Freddie MacHomePossible

X

X

X

X

 

X

 

 

 

 

 

 

 

Freddie MacCHOICERenovation Mortgage

 

 

X

X

X

X

 

 

 

 

 

 

 

Freddie MacCHOICEReno eXPress Mortgage

 

 

X

X

X

X

 

 

 

 

 

 

 

Freddie MacManufactured Home Mortgage

 

 

X

X

 

X

 

 

 

 

 

X

 

Freddie MacAffordable Seconds

X

 

X

X

 

 

 

 

 

 

 

 

 

Freddie MacCHOICEHome Mortgages

X

 

X

X

 

 

 

 

 

 

 

 

 

Freddie MacGreenCHOICE Mortgages

 

 

X

X

X

X

 

 

 

 

 

 

 

Freddie MacHUD-Guaranteed Section 184 Native American Mortgages

X

 

X

X

X

 

X

 

 

 

 

X

 

Freddie MacHFA Advantage

 

 

X

X

 

X

 

 

 

 

 

 

 

Freddie MacRefi Possible

X

 

 

X

 

X

 

 

 

 

 

 

 

Freddie MacAll for Home

X

X

X

X

X

X

X

X

X

X

X

X

X

Freddie MacDPA One (Down Payment Assistance Program One)

X

X

X

 

 

 

 

 

 

 

 

 

 

Freddie MacEnhanced Relief Refinance Mortgage (FMERR)

 

 

 

X

 

X

 

 

 

 

 

 

 


 

Legend

  • 247 - Insured Mortgages on Hawaiian Home Land
  • 248 - Insured Mortgages on Indian Land
  • 203(h) - Mortgage Insurance for Disaster Victims
  • Variation implies that the program has a tweak to better cater to the applicable populations
  • Tribal Land – VA Tribal Land Loans

Last Updated: May 23, 2024