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Affordable Mortgage Lending Center

Federal Agencies and Government Sponsored
Enterprises Programs & Products

Last Updated: March 1, 2024

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.

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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.

This table is best viewed on a larger display.

AgencyAgy

Program NameProg

Low and Moderate IncomeInc

First Time Homebuyer1st Home

PurchasePurch

RefinanceRefi

Rehabilitation/ RepairsRehab

Manufactured HomesManu

Native AmericansNat. Amer.

VeteransVets

Victims of a DisasterDisaster

RuralRural

SeniorsSeniors

Persons With DisabilitiesDisabled

Public ServantsPub. Serv.

HUD/ FHA FHA Title I: Property Improvement Loan Insurance Refinance Rehabilitation / Repairs Persons with Disabilities
HUD/ FHA FHA Title I: Manufactured Home Loan Insurance Low and Moderate Income Purchase Refinance Manufactured Homes
HUD/ FHA FHA Title II: 203(b) Mortgage Insurance Program Low and Moderate Income First-Time Homebuyer Purchase Refinance 247 & 248Native Americans 203(h)Victims of a disaster
HUD/ FHA FHA Title II: Streamline Refinance First-Time Homebuyer Purchase Refinance 247 & 248Native Americans 203(h)Victims of a disaster
HUD/ FHA FHA Title II: 203(k) Rehabilitation Mortgage Insurance First-Time Homebuyer Purchase Refinance Rehabilitation/ Repairs
HUD/ FHA Home Equity Conversion Mortgage (HECM) Refinance Seniors
HUD/ FHA HUD 184 Indian Home Loan Guarantee Low and Moderate Income Purchase Refinance Rehabilitation/ Repairs Native Americans Persons With Disabilities
HUD/ FHA HUD Good Neighbor Next Door Purchase Public Servants
USDA Single Family Housing Guaranteed Loan Program Low and Moderate Income First-Time Homebuyer Purchase Refinance Rehabilitation / Repairs Manufactured Homes Veterans Rural Persons With Disabilities
USDA Single Family Direct Loans Low and Moderate Income First-Time Homebuyer Purchase Rehabilitation / Repairs Manufactured homesVariation victims of a diasterVariation Rural Persons With Disabilities
USDA Single Family Housing Repair Loans and Grants Low and Moderate Income Rehabilitation / Repairs Veterans Rural Seniors Persons With Disabilities
VA Home Purchase Loan Program First-Time Homebuyer Purchase Rehabilitation / Repairs Manufactured Homes Native AmericansTribal Land Veterans Persons With Disabilities
VA Interest Rate Reduction Refinance Loan Refinance Veterans Persons With Disabilities
VA Cash-out Refinance Loan Refinance Veterans Persons With Disabilities
VA Native American Direct Loan Purchase Refinance Native Americans Veterans Persons With Disabilities
CDFI Fund Bank Enterprise Awards Low and Moderate Income Purchase Refinance Rehabilitation / Repairs Manufactured Homes Persons With Disabilities
CDFI Fund CDFI Program Low and Moderate Income Purchase Refinance Rehabilitation / Repairs Manufactured Homes Native Americans
CDFI Fund CDFI Bond Guarantee Program Benefits Low and Moderate Income Purchase Refinance Manufactured Homes
CDFI Fund Native Initiatives Benefits Low and Moderate Income Purchase Refinance Rehabilitation / Repairs Native Americans
CDFI Fund Capital Magnet Fund Low and Moderate Income Purchase Rehabilitation / Repairs Manufactured Homes
Fannie Mae HomeReadyTM Mortgage Low and Moderate Income First-Time Homebuyer Purchase Refinance Manufactured Homes Veterans Persons with Disabilities Public Servants
Fannie Mae Standard 97 Percent Loan-To-Value Mortgage Low and Moderate Income First-Time Homebuyer Purchase Refinance
Fannie Mae HFA Preferred Low and Moderate Income Purchase Refinance Manufactured Homes
Fannie Mae HomeStyle® Renovation Mortgage Purchase Refinance Rehabilitation / Repairs Persons with Disabilities
Fannie Mae HomeStyle Energy Purchase Refinance Rehabilitation / Repairs Victims of Disaster
Fannie Mae Standard Manufactured Housing Mortgage Purchase Refinance Manufactured Homes
Fannie Mae MH AdvantageTM Purchase Refinance Manufactured Homes
Fannie Mae Shared Equity Programs Low and Moderate Income Purchase Refinance
Fannie Mae Native American Homeownership Low and Moderate Income Purchase Refinance Rehabilitation / Repairs Native Americans Persons with Disabilities
Fannie Mae RefiNow Refinance
Fannie Mae High LTV Refinance Option (HIRO)* Refinance
Freddie Mac HomeOne First-Time Homebuyer Purchase Refinance
Freddie Mac HomePossible Low and Moderate Income First-Time Homebuyer Purchase Refinance Manufactured Homes
Freddie Mac CHOICERenovation Mortgage Purchase Refinance Rehabilitation / Repairs Manufactured Homes
Freddie Mac CHOICEReno eXPress Mortgage Purchase Refinance Rehabilitation / Repairs Manufactured Homes
Freddie Mac Manufactured Home Mortgage Purchase Refinance Manufactured Homes Persons with Disabilities
Freddie Mac Affordable Seconds Low and Moderate Income Purchase Refinance
Freddie Mac CHOICEHome Mortgages Low and Moderate Income Purchase Refinance
Freddie Mac GreenCHOICE Mortgages Purchase Refinance Rehabilitation / Repairs Manufactured Homes
Freddie Mac HUD-Guaranteed Section 184 Native American Mortgages Low and Moderate Income Purchase Refinance Rehabilitation / Repairs Native Americans Persons with Disabilities
Freddie Mac HFA Advantage Purchase Refinance Manufactured Homes
Freddie Mac Refi Possible Low and Moderate Income Refinance Manufactured Homes
Freddie Mac All for Home Low and Moderate Income First Time Homebuyer Purchase Refinance Rehabilitation/Repairs Manufactured Homes Native Americans Veterans Victims of a Disaster Rural Seniors Persons with Disabilities Public Servants
Freddie Mac DPA One (Down Payment Assistance Program One) Low and Moderate Income First Time Homebuyer Purchase
Freddie Mac Enhanced Relief Refinance Mortgage (FMERR) Refinance Manufactured Homes

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