Fannie Mae

There are some great financing options available for existing or new construction Manufactured Homes. If this is something you have thought about, let’s talk about any questions and options you may have.

Related Article Title: Fannie Mae Selling Guide Announcement SEL–2019-07 – Dated August 7, 2019 Written by: Lloyd Rutherford, Staff Writer The manufactured home industry is growing rapidly, and this update is just what you may need to consider adding to your book of business. Rule Synopsis: Fannie Mae is updating their selling guide for a [...]

2019-09-10T09:48:49-05:00September 10th, 2019|Fannie Mae, Social Media Posts|

Fannie Mae Selling Guide Announcement SEL–2019-07 – Dated August 7, 2019

Written by: Lloyd Rutherford, Staff Writer The manufactured home industry is growing rapidly, and this update is just what you may need to consider adding to your book of business. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The [...]

2019-09-10T09:48:12-05:00September 10th, 2019|

Fannie/Freddie – Using Rental Income on Exiting Property

Question: If a client wants to rent out the property they are currently living in and needs to use that income in order to qualify for their new primary residence, how is this done? Answer: When converting a current primary residence to a rental / investment property, Fannie will allow you to use the positive [...]

2019-08-21T10:05:11-05:00August 26th, 2019|

Have equity in your home and need cash-out? Fannie Mae allows you to take equity out of your home for any reason. Contact me for details.

Related Article Title: Fannie Mae – Adding New Person to Title for Cash-Out Question: My client has owned a property for 12 months and wants to add his friend to the title so that they can do a cash-out refinance to pay off the mortgage and cash-out the money spent on renovating the property. Is [...]

2019-08-25T10:10:05-05:00August 26th, 2019|Fannie Mae, Social Media Posts|

Fannie Mae – Auto Allowance & Mileage as Income

Question: My client has received an auto allowance and mileage every month for 3 years. Can I use this as income, or use it to offset his auto debt? Answer: You would not be able to use the mileage rate.  Fannie Mae stripped that out of their guidelines in 2018 due to changes in the [...]

2019-08-23T15:42:24-05:00August 26th, 2019|