February 5, 2022

Higher interest rates for 2nd home loans?

By ann
Effective April 1, 2022, Fannie Mae/Freddie Mac will implement an interest rate surcharge for some second home loans.
houseThis will apply only to conforming loans (less than $647,500).
I heard from one larger lender that they have a plan to originate and portfolio these loans so that the interest rates posted for primary homes can be the same for 2nd homes (similar policy for jumbo loans).
There is a solution.  I am happy to provide a reference for an area mortgage representative to help.
ann.delaney@timkerrsir.com
609-967-7950
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