Second Homes Purchase ( > 647k ) Are About To Get Very Expensive

Published 5 months ago

Hello,

I wanted to get this critical information out about a change FHFA (Fannie Mae) made. The change will impact your costs on obtaining financing on a second home and loans above 647k, which is called "high balance."

The video above has all of the essential info if you plan to purchase a 2nd home soon.

Rates are going up for loans over $647,000 after April 1. Lock by Valentines Day to avoid this extra cost.

Link to the announcement - https://singlefamily.fanniemae.com/media/30326/display