Financial Resources for Seniors

Dad playing airplane with his daughter

Fannie Mae

For almost 90 years, Fannie Mae has provided a reliable source of affordable mortgage credit that supports homebuyers and renters across the country.

We enable 30-year fixed-rate mortgages that give homeowners stable monthly payments and the option to prepay at any time. This “American Mortgage” has become the standard, helping millions achieve the American dream of homeownership.

 

Grandparents playing a game with their grandchildren

Freddie Mac

We serve America’s homebuyers, homeowners and renters by providing liquidity, stability and affordability to the housing market through all economic cycles and in all communities nationwide.

Freddie Mac was chartered by Congress in 1970 to support the U.S. housing finance system and help ensure a reliable and affordable supply of mortgage funds across the country.  Rather than lending directly to borrowers, Freddie Mac operates in the U.S. secondary mortgage market, buying loans that meet our standards from approved lenders.

Those  lenders  are then, in turn, able to provide more loans to qualified borrowers and keep capital flowing into the housing market. Freddie Mac then pools the mortgages it buys into securities, which they sell to investors around the world.

 

Reverse Mortgages

 

Lender explaining reverse mortgages to a senior couple.

Federal Trade Commission | Consumer Advice

Reverse mortgages are a way for older homeowners to borrow money based on the equity in your home. Here’s what to know about the potential risks, how reverse mortgages work, how to get the best deal for you, and how to report reverse mortgage fraud.

 

Depiction of a one-hundred dollar bill cut in the shape of a home with a person pulling out a small section of it - depicting an illustration of a reverse mortgage.

AARP: Everything You Need to Know About Reverse Mortgages

This type of loan allows some older homeowners to tap their equity. Here’s how it works.