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What’s The Difference Between the FHA and Fannie Mae? : Mortgage Loans, Rates, Home Buying, Selling, Foreclosures

What’s The Difference Between the FHA and Fannie Mae?

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The FHA is part of the Department of Housing and Urban Development. FHA was founded in the 1930s and popularized long-term financing with little down. It guarantees (insures) that loans with little down will be re-paid, thus reducing lender risk.

Fannie Mae is a former government agency that has been converted into a for-profit government sponsored enterprise (GSE). It buys loans from local lenders. The local lenders then take the cash they receive from loan sales and use the money to make more local loans. Fannie Mae gets its money by selling securities on Wall Street.

For specifics, please speak with local lenders.

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