Tag: Investment Property

Compliance – Second Home vs. Investment Property: Is a borrower an owner-occupant if they do not presently own a home, but want to buy a home in another state for retirement purposes next year?

Answer: If your borrower cannot occupy at time of closing, a lender will typically not allow it to be purchased as owner occupied.  Your borrower could buy it as a second home as there are typically no pricing hits for a second-home purchase. There is no ‘rule’ that says you have to own a primary […]

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Freddie Mac-Bulletin 2018-1 – Dated January 31, 2018-May Implement Immediately-Must Implement by November 30, 2018

By: Lloyd Rutherford, Staff Writer This is an important update if you work with clients using rental income.  Previous bulletins issued referred to a must implement date that has now been changed. Read this update to understand how it may affect your clients and the investors you use. Rule Synopsis: Freddie Mac issues bulletin 2018-1 […]

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