Second Homes

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 [...]

2019-02-21T16:14:26-05:00February 25th, 2019|

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 [...]

2018-05-29T17:38:26-05:00April 9th, 2018|