Fannie and Freddie Say “Show Me the Money”
October 21st, 2008 categories: For Buyers, West Chester Ohio
People in Cincinnati and West Chester who want mortgages will need 5% more of their own money starting December 13, 2008.
As a response the current sub-prime mortgage mess, the new Fannie Mae mortgage lending guidelines will require borrowers have more invested in their properties.
Mortgage money is available, but if you have been sitting on the fence waiting for the real estate market to bottom out…think about increased down payment requirements as well as the upward creeping mortgage interest rates.
The home you fell in love with last week may never be a better buy than right now!
Call or email if you questions. Talk to your loan officer/lender to determine the impact of the new Freddie and Fannie guidelines and then make an informed decision.
| Discussion: Comments Off
Both comments and pings are currently closed.
