Here is the link to the Fannie Mae announcement about this LLPA increase: https://singlefamily.fanniemae.com/media/30326/display
🚨⚠️ 𝗧𝗵𝗮𝘁'𝘀 𝗿𝗶𝗴𝗵𝘁, 𝘁𝗵𝗲 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲 𝗼𝗻 𝗮 𝘀𝗲𝗰𝗼𝗻𝗱 𝗵𝗼𝗺𝗲 🏡 𝗶𝘀 𝘀𝗼𝗼𝗻 𝗴𝗼𝗶𝗻𝗴 𝘁𝗼 𝗰𝗼𝘀𝘁 𝗮𝗻𝘆𝘄𝗵𝗲𝗿𝗲 𝗳𝗿𝗼𝗺 𝟭-𝟰% 𝗵𝗶𝗴𝗵𝗲𝗿 𝗶𝗻 𝗳𝗲𝗲 𝘁𝗵𝗮𝗻 𝘆𝗼𝘂𝗿 𝗿𝗲𝗴𝘂𝗹𝗮𝗿 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲.
So if you've been thinking of buying a home on the lake, a cabin in the mountains, a condo at the beach... any kind of second vacation home, we need to talk!
👎 A recent announcement from the Federal Housing Finance Agency has come out and said that lenders will soon be required to add an additional increase to the interest rate of a second home (a second home is a vacation home, like a home in the mountains, on the lake, or a beach house that you will only live in part of the year and is not your primary residence). The size of the rate increase will depend on how much you're putting down as a downpayment.
👍 𝗧𝗵𝗲 𝗴𝗼𝗼𝗱 𝗻𝗲𝘄𝘀 𝘁𝗵𝗼𝘂𝗴𝗵 𝗶𝘀 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲𝗿𝗲 𝗶𝘀 𝗮 𝘀𝗺𝗮𝗹𝗹 𝘄𝗶𝗻𝗱𝗼𝘄 𝗼𝗳 𝘁𝗶𝗺𝗲 𝘄𝗵𝗲𝗿𝗲 𝘄𝗲 𝗰𝗮𝗻 𝘀𝘁𝗶𝗹𝗹 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝗯𝘂𝘆 𝘁𝗵𝗮𝘁 𝘃𝗮𝗰𝗮𝘁𝗶𝗼𝗻 𝗵𝗼𝗺𝗲 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝘁𝗵𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗿𝗮𝘁𝗲 (𝘣𝘶𝘵 𝘪𝘵 𝘤𝘰𝘶𝘭𝘥 𝘣𝘦 𝘢 𝘝𝘌𝘙𝘠 𝘴𝘮𝘢𝘭𝘭 𝘸𝘪𝘯𝘥𝘰𝘸!)
👉 𝗥𝗲𝗮𝗰𝗵 𝗼𝘂𝘁 𝘁𝗼 𝗺𝗲 𝗳𝗼𝗿 𝗱𝗲𝘁𝗮𝗶𝗹𝘀 𝗶𝗳 𝘆𝗼𝘂'𝘃𝗲 𝗯𝗲𝗲𝗻 𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝘀𝗲𝗰𝗼𝗻𝗱 𝗵𝗼𝗺𝗲 𝗼𝗿 𝗰𝗼𝗻𝗱𝗼 𝘀𝗼 𝗜 𝗰𝗮𝗻 𝗯𝗲𝘁𝘁𝗲𝗿 𝗲𝘅𝗽𝗹𝗮𝗶𝗻 𝘄𝗵𝗮𝘁 𝗶𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗶𝘁 𝘄𝗶𝗹𝗹 𝗮𝗳𝗳𝗲𝗰𝘁 𝘆𝗼𝘂!
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