Freddie Mac has rolled out a new mortgage insurance option for us that is paid by Freddie Mac, but with very affordable rates for borrowers with credit scores above 740. For example, with a 740 Fico Score their rates rises just 3/8% and with a 760 Fico their rate may only rise by ¼%.

 

Also, with this option Freddie Mac will allow for a cash out refinance up to 85% (above the normal 80%) of the value of their home if it’s their primary residence.