7544 W. North Ave., Elmwood Park, IL 60707 • 708.452.5151

Fannie Mae is an acronym for FNMA, which are the initials for the Federal National Mortgage Association.  Freddie Mac comes from FHLMC, which stands for the Federal Home Loan Mortgage Corporation.  Another entity you will hear about is FHA, which stands for the Federal Housing Administration.  Each of these institutions offers (guarantees) mortgage loans with different characteristics, such as down payment requirement, co-signer rules, gift allowances, etc.  The good news is, Mortgage Resource Group is approved to do business with all these entities and knows and understands all the rules so you won’t need to learn them all yourself!