Social Media Posts

Effective October 10, 2019 Freddie Mac will not allow rental income on a 1-unit property for their HomePossible program if the income is coming from an interested party or borrower’s spouse or domestic partner. Contact me for me details!

Related Article Title: Freddie Mac Selling Guide Updates – Bulletin 2019-16 – Dated July 10, 2019 Written by: Lloyd Rutherford, Staff Writer Freddie Mac issued a bulletin with a lot of details a lender needs to review. Read through this article as our expert points out what you need to know. Rule Synopsis: Freddie Mac [...]

2019-07-16T10:24:21-05:00July 16th, 2019|Freddie Mac, Social Media Posts|

When you purchase new construction, the actual property taxes (if paid in arrears in that state) may be lower because those taxes were based on undeveloped land. The lender will qualify you based on the property taxes adjusted for residential use. Sometimes homebuyers are shocked to see how much their tax liability goes up after the first year of buying a new construction home, so lenders check to make sure the buyer will not experience payment shock when that happens.

Related Article Title: Freddie Mac Selling Guide Updates – Bulletin 2019-16 – Dated July 10, 2019 Written by: Lloyd Rutherford, Staff Writer Freddie Mac issued a bulletin with a lot of details a lender needs to review. Read through this article as our expert points out what you need to know. Rule Synopsis: Freddie Mac [...]

2019-07-16T10:21:20-05:00July 16th, 2019|Freddie Mac, Social Media Posts|

Big changes coming! The Fannie Mae HomeReady® program has changed their income guidelines so they are now more restrictive. If you need this program, we must get their application in prior to July 20th! Contact me for details.

Related Article Title: Fannie Mae Selling Guide Announcement SEL–2019-06 – Dated July 3, 2019 Written by: Lloyd Rutherford, Staff Writer Important updates from Fannie Mae’s seller bulletin, especially for those of you working with HomeReady® Buyers! Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the [...]

2019-07-09T11:50:19-05:00July 10th, 2019|Fannie Mae, Social Media Posts|

USDA announced that they will require a $25 technology fee on every loan. This is not the lender’s requirement, it is a new fee implemented by USDA. The collection of this fee will be used to modernize USDA technology.

Related Article Title: USDA – NEW Technology Fee Being Implemented – Dated June 12, 2019 – Effective January 1, 2020 Written by: David Hail, Staff Writer USDA lenders, this is an important update just announced by USDA regarding required fees. Read through this article to find out all of the details. Rule Synopsis: On June [...]

2019-07-09T12:20:01-05:00July 10th, 2019|Social Media Posts, USDA|

According to Harvard Joint Center for Housing Studies, almost 80% of the nation’s 137 million homes are now at least 20 years old and 40% are at least 50 years old! Sounds like those homes could use a renovation, and we have the solutions for you! Comment below and I’ll send you some options.

Related Article Title: Freddie Mac Selling Guide Updates – Bulletin 2019-14 – Dated June 19, 2019 – NEW MTP™ Freddie Mac ChoiceRenovation® Program. Written by: Lloyd Rutherford, Staff Writer More options for those of you in markets with lower inventory! Check out the new updates in Freddie Mac’s renovation program. I think you’re going to [...]

2019-07-09T11:40:51-05:00July 10th, 2019|Freddie Mac, Social Media Posts|