Category: Fannie Mae/Freddie Mac

Do you have a credit card that has to be paid off each month?  When you finance a home, evaluating this type of credit can get a little tricky.  Let’s talk before you start looking for your home to avoid any bumps in the home financing road!

Do you have a credit card that has to be paid off each month?  When you finance a home, evaluating this type of credit can get a little tricky.  Let’s talk before you start looking for your home to avoid any bumps in the home financing road!

Related Article Title: 30-Day Accounts – Payment or Reserves – What Is Required? Question: Our client has an open 30-day account.  The credit report has a monthly payment associated with that account. DU is requiring reserves, and when I search the Fannie Mae guidelines, I get two different answers about how to treat this debt […]

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Interesting Fact!  If you want to purchase a single-family home that has been moved from one lot to another lot, you can obtain home financing with a structural engineer’s report that the home is still structurally sound.  Have questions about financing a new home? Let’s talk!

Interesting Fact!  If you want to purchase a single-family home that has been moved from one lot to another lot, you can obtain home financing with a structural engineer’s report that the home is still structurally sound.  Have questions about financing a new home? Let’s talk!

Related Article Title: Financing a Single-Family Home That Has Been Moved Question: Do Conventional guidelines allow financing on a single-family home that has been relocated to a new lot? Answer: Fannie and Freddie have no restrictions for an SFR (stick-built) home being moved/relocated, but your appraiser should be informed so that they can make appropriate […]

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Parsonage Income & Ratio Calculation

Question: My client is a minister, and states that he receives a housing allowance as part of his salary.  The issue is that he is paid a flat salary from the ministry [no housing allowance on his paystub, W2 or VOE] and chooses to designate a portion of that salary as housing allowance on his […]

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30-Day Accounts – Payment or Reserves – What Is Required?

Question: Our client has an open 30-day account.  The credit report has a monthly payment associated with that account. DU is requiring reserves, and when I search the Fannie Mae guidelines, I get two different answers about how to treat this debt – one if there is a payment on the credit report, and one […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Financing a Single-Family Home That Has Been Moved

Question: Do Conventional guidelines allow financing on a single-family home that has been relocated to a new lot? Answer: Fannie and Freddie have no restrictions for an SFR (stick-built) home being moved/relocated, but your appraiser should be informed so that they can make appropriate comments. Whether the appraiser calls for it, or your lender/underwriter calls […]

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