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Last Modified for the Fourth Quarter of 2021
The Refinance Test evaluates a borrower’s ability to successfully refinance a balloon balance at maturity. We're providing you with this tool to:
As always, when a loan does not pass the test, this is simply an indicator for you to discuss the parameters sooner with your underwriter. It does not necessarily mean Freddie Mac will not buy the loan.
|Refinance Test and Tutorial|
|Refinance Test (Q4)||Required for new loans, except Small Balance Loans, effective January 24, 2022|
|Refinance Test Tutorial||How to use the Refinance Test|
|Entering Supplemental Loans into Refinance Test Tutorial||Instructions for supplemental loans|