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Ginnie Mae I vs. Ginnie Mae II
Ginnie Mae I MBS Ginnie Mae II MBS
Issuer Ginnie Mae-approved Mortgage Lender (Single-Issuers) Ginnie Mae-approved Mortgage Lender (Single-Issuers)
Underlying Mortgages Government-insured and -guaranteed Loans (FHA, VA, RD, PIH) Government-insured and -guaranteed Loans (FHA, VA, RD, PIH)
Pool Types
  • Single-Family Level-Payment Mortgage
  • Single-Family Graduated Payment Mortgage
  • Single-Family Growing Equity Mortgage
  • Single-Family Buydown Mortgage
  • Manufactured Housing
  • Serial Notes
  • Multifamily Construction Loan
  • Multifamily Project Loan
  • Single-Family Level-Payment Mortgage
  • Single-Family Graduated Payment Mortgage
  • Single-Family Growing Equity Mortgage
  • Single-Family Adjustable Rate Mortgage
  • Manufactured Housing
  • Buydown Mortgages
Interest Rate on Underlying Mortgages All mortgages in a pool have the same interest rate (except manufactured housing pools) Mortgages in a pool may have interest rates that range from 25 to 75 basis points
Guaranty Timely payment of principal and interest Timely payment of principal and interest
Guarantor Ginnie Mae Ginnie Mae
Principal and Interest Paid monthly to securities holders Paid monthly to securities holders
Payment Date 15th of the month 20th of the month
Record Date Final day of the month before payment Final day of the month before payment
Maturity Maximum 30 years for Single-Family;
40 years for Multifamily
Maximum 30 years
Minimum Certificate Size $25,000; $1 increments $25,000; $1 increments
Minimum Pool Size $1,000,000 (Single-Family); $25,000 (Multifamily) $250,000-$1,000,000 depending on pool type
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Ginnie Mae I vs. Ginnie Mae II

 

Ginnie Mae I MBS
Ginnie Mae II MBS
Issuer
Ginnie Mae-approved Mortgage Lender (Single-Issuers)
Ginnie Mae-approved Mortgage Lender (Single-Issuers)
Underlying Mortgages
Government-insured and -guaranteed Loans (FHA, VA, RD, PIH)
Government-insured and -guaranteed Loans (FHA, VA, RD, PIH)
Pool Types
Single-Family Level-Payment Mortgage
 
Single-Family Graduated Payment Mortgage
 
Single-Family Growing Equity Mortgage
 
Single-Family Buydown Mortgage
 
Manufactured Housing
 
Serial Notes
 
Multifamily Construction Loan
 
Multifamily Project Loan
Single-Family Level-Payment Mortgage
 
Single-Family Graduated Payment Mortgage
 
Single-Family Growing Equity Mortgage
 
Single-Family Adjustable Rate Mortgage
 
Manufactured Housing 
 
Buydown Mortgages

 

 

 
Interest Rate on Underlying Mortgages
All mortgages in a pool have the same interest rate (except manufactured housing pools)
Mortgages in a pool may have interest rates that range from 25 to 75 basis points
Guaranty
Timely payment of principal and interest
Timely payment of principal and interest
Guarantor
Ginnie Mae
Ginnie Mae
Principal and Interest
Paid monthly to securities holders
Paid monthly to securities holders
Payment Date
15th of the month
20th of the month
Record Date
Final day of the month before payment
Final day of the month before payment
Maturity
Maximum 30 years for Single-Family; 40 years for Multifamily
Maximum 30 years

 
Minimum Certificate Size
$25,000; $1 increments
$25,000; $1 increments
Minimum Pool Size
$1,000,000 (Single-Family);
$25,000 (Multifamily)
$250,000-$1,000,000 depending on pool type
Last Modified: 10/14/2020 6:19 PM