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