Posts tagged fannie mae

The Low Down on Down Payments

20 Percent Down Regulation

As with most investments, you will never be absolutely certain that you are buying the right house with the perfect mortgage.  This is doubly true if you’re a first time home buyer.  An unfortunate mix of misinformation, dated information, and flat out myths related to mortgage and financing options can put you in a position […]

3 Percent Down Payment Now Available on Fannie Mae

In an effort to bolster the housing market and open the doors of home ownership to many more, Fannie Mae has reduced their down payment requirement from 5 percent to 3 percent. The new option will give homebuyers, and current home owners, an opportunity to finance a home without placing an undue financial burden. In […]

Which Mortgage? FHA 203K or HomePath Loan

Short sales and bank owned properties can offer a great price point to the savvy buyer or investor.  Typically though, these homes do require some amount of work and repairs.  I’ve found that many properties just need some cosmetic ‘touch ups’ like paint and landscaping.  Others however may need significant remodeling, including drywall, roofing or […]

Faster Short Sales through Fannie Mae and the MLS?

Faster Short Sales through Fannie Mae and the MLS?

The article below from Inman News is quite promising.  Anybody who has dealt with short sales is fully aware of how long and tedious the process can be.  Fannie Mae appears to be making an effort towards expediting this process.  They have implemented a Short Sale Assistance Desk program.  The Sunnyvale California CAR MLS has […]

Fannie Mae: Qualifying for interest-only loans tougher

Fannie Mae: Qualifying for interest-only loans tougher

Thanks to the Wisconsin Realtors Association for bringing this to my attention: Fannie Mae announced Friday that it will tighten lending requirements for the interest-only loans and adjustable rate mortgages (ARMs) it backs.  To get a Fannie Mae-backed interest-only mortgage, for example, homebuyers will have to make down payments of 30% of the sale price.  […]

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