Fannie Mae/Freddie in Brief

Conventional loan limits are increasing in most counties January 1, 2019. Comment below with your County and I’ll send you the new loan limits.

Related Article Title: FHFA Announces Maximum Conforming Loan Limits for 2019 Written By: Lloyd Rutherford, Staff Writer We sent out an announcement via email and social media on the new loan limits. Here is the official announcement and links for your use. Rule Synopsis: The GSEs (Fannie Mae and Freddie Mac) at the direction of [...]

Would you like a copy of my newest comparison chart entitled, “Cancelling Private Mortgage Insurance – Fannie vs. Freddie?” Email or post below.

Answer: Here’s a new comparison chart, Cancelling Private Mortgage Insurance – Fannie vs. Freddie, provides some little-known information at your fingertips that could truly save your borrowers thousands of dollars if you steer them to the right Agency when originating their mortgage. Examples: Freddie is the better loan choice for the 1-unit primary residence purchase [...]

2018-01-10T09:04:19-05:00January 9th, 2018|Fannie Mae/Freddie in Brief|

Pictures of required documents are accepted by Fannie, Freddie and FHA. This gets our clients to closing faster!

Answer: [tweet-start]Send us a picture of your loan docs and we are okay with that! Making the mortgage process easier![tweet-end] Fannie and Freddie Answer: Freddie and Fannie do not have any guidelines that would prevent a lender from using a photo of the document vs. a photocopy/PDF. FHA Answer: FHA does not discuss acceptable image [...]

2018-01-10T09:04:46-05:00January 9th, 2018|Fannie Mae/Freddie in Brief|

On conventional loans; rental income from a client’s current home can be used to offset the payment on that mortgage, which makes it easier to qualify for their new mortgage.

Answer: If a client wants to keep their present home and buy a new one, they can use rental income to offset the debt on their old mortgage. Both Fannie Mae and Freddie Mac are exactly alike in both scenarios. If vacating the old home and renting out, you can use lease agreements: take 75% [...]

2018-09-25T10:15:28-05:00January 9th, 2018|Fannie Mae/Freddie in Brief|

Non-US citizen borrowers and the varying types of visas can be overwhelming when it comes to purchasing a home. We have this all sorted out and can assist your clients, so contact us first.

Answer: [tweet-start]Non-US citizens who want to purchase a home have special requirements. We are experts at helping them – so call us![tweet-end] Fannie and Freddie allow for non-permanent resident aliens; however, they do not indicate which types of visas are allowed or disallowed. That is up to each individual lender to determine. See selling guide [...]

2018-01-10T09:04:47-05:00January 9th, 2018|Fannie Mae/Freddie in Brief|