The Federal Housing Finance Agency didn’t have a set date for its new refi option targeted to low-income borrowers when it announced the program last week. But on Wednesday, both Fannie Mae and Freddie Mac announced release dates for their versions of the refi product.

Fannie Mae’s RefiNow option will be available June 5, while Freddie Mac’s Refi Possible will be available two months later in August. It’s estimated that the options, intended to pave the way for lower-income borrowers who missed out on the massive refi wave in 2020, will save homeowners an additional $100 details ⇒

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