What type of housing does Ginnie Mae primarily focus on?

Ginnie Mae primarily focuses on low-income housing because it operates within the framework of government-sponsored programs aimed at expanding access to affordable housing. It is part of the Department of Housing and Urban Development (HUD) and plays a critical role in facilitating home financing for low-income and first-time homebuyers by securitizing mortgage loans that are insured or guaranteed by government entities, such as the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA).

This emphasis on low-income housing ensures that more individuals and families have the opportunity to attain homeownership, which is essential in promoting community development and providing stability in housing markets. Ginnie Mae's backing helps lower the costs of borrowing, thus making homeownership more attainable for those in lower income brackets, distinguishing its mission clearly from the development or financing of luxury or commercial properties.