Home Possible

Freddie Mac Selling Guide Updates – Bulletin 2019-15 – Dated June 20, 2019 – Effective July 28, 2019

Written By: Lloyd Rutherford, Staff Writer Heads up if you work with the HomePossible® Program. This update will dramatically affect loans in your pipeline or some of your buyers who may be currently shopping for homes. Rule Synopsis: Freddie Mac announces that they are dropping their Area Median Income limits to a maximum of 80% [...]

2019-07-09T10:51:25-05:00July 10th, 2019|

Fannie Mae & Freddie Mac – HomePossible® & HomeReady®- Income Limits: If I have a married couple but only one spouse wants to be on the loan, is this acceptable for income limit purposes? 97% Financing Options Comparison – Fannie vs. Freddie Chart

Answer: That should be acceptable if both work; however, the other party cannot not be on the loan.  If you want to have both on the loan, you would have to use both of their incomes.  The only time you can consider not including income (from anyone on the loan that has employment) is if [...]

2019-05-22T13:06:03-05:00May 24th, 2019|

Freddie Mac Bulletin – 2019-7 – Multiple Selling Guide Updates – Dated April 3, 2019 – Effective July 3, 2019 and February 1, 2020. [NEW Chart – Fannie Mae vs. Freddie Mac Underwriting Differences]

Written By: Lloyd Rutherford, Staff Writer This update contains a lot of exciting news that is sure to expand your business or make it easier. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The updates announced in this Selling [...]

2019-04-09T11:51:04-05:00April 10th, 2019|