DU Refi Plus was retired by Fannie Mae effective December 31, 2018; no new applications are accepted, but loans originated before that date could close through July 15, 2019.
What is DU Refi Plus?
DU Refi Plus was a refinancing program for Fannie Mae-backed loans, designed to help underwater or low-equity homeowners secure lower rates without new mortgage insurance.
Think of it as HARP’s cousin—it let borrowers refinance even when their home value had dropped, as long as the new loan followed Fannie’s rules. The catch? Your original loan had to be Fannie-backed and closed before December 31, 2018. After that cutoff, no fresh applications were allowed. Fannie Mae keeps the old details archived for anyone who’s curious.
What is Fannie Mae Refi now?
Fannie Mae RefiNow™ is a 2026 active program that offers lower-cost refinancing for qualifying homeowners, including those with limited equity or modest incomes.
It’s basically the modern replacement for DU Refi Plus. RefiNow slashes upfront costs by ditching the standard refinance fee and trims the interest rate for folks who qualify. Perfect for homeowners who’d normally get turned down because of income limits or shaky credit. You’ll need a debt-to-income ratio under 65%, six months of on-time payments, and a loan-to-value up to 97%. Check the Fannie Mae RefiNow page for the full scoop.
Do I qualify for FNMA enhancements?
Eligibility for FNMA enhancements—such as RefiNow—requires a Fannie Mae-backed mortgage, on-time payment history, and income at or below 80% of the median in your area.
You also need six months of spotless mortgage payments and no more than one late payment in the past year. These programs target low- to moderate-income borrowers who need a break. Income limits shift depending on where you live and how many people are in your household. Fannie Mae’s Loan Lookup Tool is the fastest way to see if you’re in the clear.
Is enhanced refi now legit?
Yes, enhanced refinance programs like Freddie Mac’s Enhanced Relief Refinance and Fannie Mae’s RefiNow are real and actively available through approved lenders in 2026.
They’re legit because they’re run by government-sponsored enterprises that want to help borrowers cut monthly payments or shrink their principal. No scams here—just make sure your loan is actually owned by Fannie or Freddie and fits the underwriting rules. When in doubt, double-check with your mortgage servicer or the GSE’s official sites.
How much do I need to make to refinance?
Income requirements vary by program, but most refinancing options do not have minimum income thresholds; however, your debt-to-income ratio typically must be below 50%.
Lenders care more about whether you can handle the new payment than how much you earn. Conventional refinance rules usually cap your total monthly debts—including the new mortgage—at 50% of your gross income. Government programs like FHA Streamline or RefiNow are often more forgiving. Run a quick refinance calculator before you apply; it’ll give you a realistic DTI estimate.
Why does Fannie Mae own my mortgage?
Fannie Mae owns your mortgage if it purchased the loan from your original lender in the secondary market, freeing up funds for new loans.
That’s how the secondary mortgage market works. Fannie doesn’t collect your payments—that’s your servicer’s job—but it guarantees the loan for investors. Want proof? Fannie’s Loan Lookup Tool can confirm ownership in seconds.
Do I have to wait 3 months after forbearance to refinance?
Yes, you must have made at least three consecutive on-time payments after exiting forbearance and be formally released from the plan before refinancing.
Lenders want to see stability. If you’re still in forbearance, forget about refinancing. Once you’re officially out and have made three clean payments, you can start exploring options—assuming your credit and equity check out. Ask your servicer for a formal release letter; you’ll need it when you apply. The CFPB has a handy guide on what comes next.
What is the refi Now program?
RefiNow™ is Fannie Mae’s 2026 low-cost refinancing program for eligible homeowners, offering lower rates and fewer fees to reduce monthly payments.
It’s tailor-made for borrowers with limited equity or modest incomes who want to cut housing costs without jumping through hoops. The big perks? No lender fees and a shot at a lower interest rate. You’ll need a Fannie-backed loan, solid payment history, and a DTI under 65%. The Fannie Mae RefiNow page spells out every requirement.
Are Fannie Mae loans federally backed?
Fannie Mae is a government-sponsored enterprise (GSE), not a federal agency, but it operates under congressional charter and receives implicit government support.
Fannie’s loans aren’t federally guaranteed like FHA or VA loans, but it does guarantee principal and interest payments to investors, which lowers risk. After the 2008 crash, Fannie went into government conservatorship. It doesn’t issue loans itself—lenders do. The Federal Housing Finance Agency keeps a close eye on its operations.
Is the homeowner relief program real?
Yes, federal and state homeowner relief programs exist in 2026, offering payment reductions, principal forbearance, and financial assistance to eligible borrowers.
They’re very real. You’ve got options like USDA and FHA loss-mitigation programs, plus state-level aid funded by the Treasury’s Homeowner Assistance Fund. These can slash monthly payments by up to 20%, cover past-due balances, or even provide grants. Your mortgage servicer or the CFPB can tell you what’s available right now.
Can I refinance my mortgage with Fannie Mae?
You can refinance with Fannie Mae only if your current mortgage is owned by Fannie Mae or Freddie Mac and you meet underwriting, credit, and income requirements.
The new loan has to lower your rate or payment. Start by confirming who owns your loan, then check your credit score (620+ is typical for conventional loans). Gather income docs and use Fannie’s lookup tool to see if you’re eligible. The KnowYourOptions.com portal is your one-stop shop for the next steps.
Does refinancing hurt your credit?
Refinancing typically causes a small, temporary dip in your credit score—usually 5 to 15 points—due to the hard inquiry and new loan opening.
It’s usually short-lived because refinancing replaces an old loan instead of adding new debt. Your payment history and credit utilization stay intact, and over time a lower rate can actually improve your finances and score. Just avoid opening new credit accounts around the same time; that’s the fastest way to make things worse. Experian breaks it down if you want more details.
What credit score do you need to refinance with Quicken Loans?
As of 2026, Quicken Loans (now Rocket Mortgage) typically requires a minimum credit score of 620 for conventional refinance loans.
Some niche programs or government-backed loans might accept lower scores. Your DTI, equity, and payment history still matter a ton. Rocket Mortgage’s official site lists the latest rules, but always confirm with your loan officer—credit standards can shift with the market.
