Fri, 2 June 2017
There are new rules in town, as Fannie Mae recently announced. So Jason Hartman called in his lender, Joe, to get a rundown of what exactly has changed. Investors can put 20% down on the first 10 properties purchased, but there are caveats. Once you own the property, however, you have options. Key Takeaways: [1:45] Fannie Mae allows borrowers to put 20% down or the first 10 properties. [3:58] Interest rates are rising so lock the rate on your property rate now. [8:52] 85-90 days in the maximum time to lock in a rate. [10:23] Joe explains loan level price adjustments to rate. [12:37] The Trump administration may replace the head of the Consumer Financial Protection Bureau. [17:30] The ease or difficulty of qualifying for a loan. |