 TITLE: New Mortgage Refinance Option for Low-Income Families CONTENT: Prepare for an Enterprise Finance Loan\n--------------------------------------\nIf you think an enterprise-backed mortgage refinance might be a good option for you, you'll need to follow much of the same process you would for applying for a traditional mortgage refinance:\n*   Get prepared by understanding why you're refinancing: Is it to reduce your monthly payment? Lower your interest rate?\n*   Check your credit to see if you can qualify. If your score is too low, take action to improve your credit score.\n*   Check interest rates and compare lenders' rates to determine whether a refinance will make sense for you.\n*   Find a lender you're comfortable with and let them know you're interested in the programs. Applications for Fannie Mae's RefiNow open in June 2021; Freddie Mac's ReFi Possible won't start accepting applications until late August 2021.\n*   Apply for the loan, and enjoy your new low rate or monthly payment. END