does the loan have to be Freddie Mac or Fannie Mae

If your referring to eligibility for HARP 2.0 financing, then yes.. your loan must be owned by Freddie or Fannie, and must be initiated prior to June 2009 for consideration. There are properties that have met these requirements, yet still got denied.. so it's best you contact a local mortgage broker and let him run your file through the automated underwriting system to see for sure. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

More info is needed, what loan? for What?

Yes and NoAssuming you are inquiring about the Making Home Affordable Program (HARP 2.0) refinance program for underwater home owner's than yes, the current mortgage must be owned by Fannie Mae or Freddie Mac.If your current loan is a FHA or VA loan you can participate in today's low rates with a streamline refinance (without an appraisal).Even if your mortgage is not FHA, VA or owned by Fannie Mae or Freddie Mac you can still refinance if you meet minimum credit requirements and do not owe more than your home is worth.

William Acres and Michael Bardy, I believe, answered your question quite wellif you are referring to qualifying for the HARP2 loan program (if you are still at leasta little underwater on your loan amount) and you wish to refinance while rates are low. Otherwise, the vast majority of conforming or high balance loans with the lowest rates be they a 30 yr fixed or an ARM, tend to get owned by Freddie Mac or Fannie Mae though the large servicing agent of your loan will hold the loan for as long they service the loan. Thus Freddie Mac and Fannie Mae are the primary investors in more than 70% of these loans. Sometimes a large bank will hold onto some of the loans as the investor or representing a private investment group. This is more common with jumbo and super jumbo loans.

If you are referring to the HARP Program, yes the loan has to be a Fannie or Freddie Loan.

Hi Greg, we really need more details to answer properly, but if you are referring to a HARP possibility then the answer is yes and had to be closed on before June 2009.