What are Federally chartered mortgages?
Answer:
Fannie Mae and Freddie Mac are examples of fed chartered mortgages.
I googled fedfunding.com
My first opinion was/is predatory lender. I can only bet that they stick borrowers into high interest rate loans, ARM loans, charge ridiculous points, have yield spread, and prepenalty fees-probably all wrapped up into one package that they will fail to disclose on your good faith estimate.
Just about anyone can "offer" a good rate. They just have confuse the borrower into believing that the fees that they charge are justified.
I only wish that I had enough knowledge to share with you. But, be warned. If any of the above terms or phrases left you scratching your head, don't apply for any home loan just yet. What you don't know could screw you over big time.
Don't ask important financial questions in a forum like this.
Go to a search engine such as yahoo or google and read, read, read. Then go to a local bank or credit union and ask, ask, ask. Other Questions and Answers: