Monday, February 9, 2009

HUGE CHANGES THAT WILL SHAKE UP THE MARKET!!!!

Can I get a collective WHOHOOOO!!!!!!!!!!!!!! Fannie Mae has reported that they are going to change their guidelines from 4 homes financed on an individuals credit to 10 homes. This is a huge victory for serious investors looking to acquire a large number of homes as inventory.

Things to ask your lender about:
  • Seasoning requirements for Cash-Out vs. Rate-and-Term Refinances.
  • Seasoning requirements for a home that was previously listed for sale on the MLS.
  • Stated, low-doc, and full-doc loans to see what you can qualify for.
  • How your rental income will affect your Debt-to-Income

It's a great time to buy a home. Now is the time to acquire everything you can. Enjoy!

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