Tag: Second Homes

Fannie Mae Lender Letter LL–2021-08 – Dated March 10, 2021 and Freddie Mac Bulletin 2021-11 – Dated March 31, 2021

Written by: Lloyd Rutherford, Staff Writer Second homes and Investment Property financing has tightened up based on a new mandate to Fannie Mae and Freddie Mac from the Treasury Department.  Pay attention to this article because it may affect some of the loans you have in your pipeline. Rule Synopsis: Fannie Mae and Freddie Mac […]

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Fannie Mae – Second Home – Distance Requirement: Does Fannie Mae require a minimum distance between a primary residence and a 2nd home? Mortgage Talking Points™- Second Homes & Rental Income -What You Need to Know

Answer: Fannie Mae does not reference a minimum distance requirement.  These types of requirements are driven by individual lenders and their restrictions/overlays in the absence of specific requirements from one of the agencies.  Many lenders will want it to be in a resort type / vacation type area, but it is not a FNMA requirement […]

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Freddie Mac Multiple Selling Guide Updates – Bulletin 2018-5 – Dated March 28, 2018 – Effective Immediately and June 28, 2018

By: Lloyd Rutherford, Staff Writer Freddie Mac is increasing their LTV’s, TLTV’s and HTLTV’s for Condominiums, Second Homes and 2-Unit Primary Residences.  Plus, many other Condo changes. Be sure to read through this article thoroughly to ensure you are up to date! Rule Synopsis: Freddie Mac is updating their selling guide for a variety of […]

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