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Updated over 3 years ago on . Most recent reply
Jay HinrichsPoster
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Professional Services
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- Lake Oswego OR Summerlin, NV
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Suspension of the 7% rule for FAnnie Freddie is HUGE
Jay HinrichsPoster
#1 All Forums Contributor
Professional Services
#1 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Read this morning that through intense lobbying by the mortgage industry ( some one got through to someone to talk sense into them)
the govmit suspending the 7% rule this should put some downward pressure on Investor and second home interest rates.. Or at least I would think so.
- Jay Hinrichs
- Podcast Guest on Show #222
JLH Capital Partners
Most Popular Reply
My rate dropped from 4.75 to 3.99, according to my loan officer, due to this change. Background so the numbers have meaning - Conservatively approved to 400k, FICO 800, clean history, 20% down payment on non owner-occupied investment property, 30 yr fixed conventional loan. Got pre-approved 10 days ago quoted 4.75, notified of the better rate and the reasoning on Wednesday.