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Fannie Mae also offers specialized programs, such as the MH Advantage® program for consumers that need home loans for manufactured homes.

Its signature programs include the HomeReady® loan, a low-down-payment, first-time homebuyer program, as well as the HomeStyle® Renovation loan, for borrowers seeking fixer-upper loans. Although Fannie Mae doesn’t actually lend money, it buys and sells mortgages from lenders, which allows them to offer low-down-payment loans with up to 30-year repayment terms. Fannie and Freddie’s role in the 2007 – 2008 financial crisisįannie Mae is a nickname for the Federal National Mortgage Association (FNMA), a leading source of home financing for lenders and banks nationwide.Differences between Fannie Mae and Freddie Mac.Similarities between Fannie Mae and Freddie Mac.