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Fannie Mae’s Game-Changing Shift: 95% LTV for 2-4 Unit Properties

Buyers, Homeownership, Investment Property, Mortgage Programs, Refinance / By

Knowing about the latest industry guidelines and shifts can significantly impact your investment strategies in the ever-evolving realm of real estate and financing. Fannie Mae, a prominent player in the mortgage industry, is introducing groundbreaking adjustments to their guidelines, poised to reshape the landscape of multi-unit property investments. Effective November 18, 2023, Fannie Mae is …

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Updated CA Dream For All – Funding and Parameters

Buyers, Homeownership, Investment Property, Mortgage Programs, Refinance / By

The California Housing Finance Agency (CalHFA) is gearing up for Phase 2 of its very exciting Down Payment Assistance (DPA) program called the Dream for All program. This equity share program had some of the most substantial benefits of all the DPA programs. However, within a week, the program ran out of its initial $300M …

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FHA Loans

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For as long as I can remember, FHA loans have played second fiddle to Conventional loans. Conventional loans offer lower mortgage insurance rates, mortgage insurance that gets removed, looser work history and documentation requirements, no funding fee, and less strict property conditions. Clients with solid credit (740+) got a better loan both in the short-term …

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FHFA Raises Mortgage Loan Limits For 2023

Buyers, Homeownership, Mortgage Programs, Refinance / By

Like last year, the limits are increasing again. Conforming loan limits increased from last year’s $647,200 to $726,200 for 1-unit properties. In high-limit areas like coastal California, the limit is as high as $1,089,300. You can view a map showing the conforming loan limits across the country here.  Increasing the conforming loan limit means more …

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Using a Temporary Buydown to Lower Housing Payments

Buyers, Homeownership, Mortgage Programs, Refinance / By

Mortgage lenders are bringing back a loan program called a 2-1 buydown or temporary buydown. These programs have been around for a while but only get dusted off when rates have recently increased. The buydown is a way to lower interest rates and buyers’ mortgage payments for the short term. The seller or builder typically …

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