Home Possible - July 2019 Rule Change

[Account Closed]

Anyone else notice a new bulletin on the Freddie Mac website?

Seems like they are removing the no limit income areas.

Said differently, if you want to qualify for Home Possible you can only qualify by being below the median income - no more no income areas.

I was set on a 3/4 unit MFH in Long Beach or Los Angeles, so felt like a painful blow when I read the update. Believe change is effective 7/28.

Anyone else notice the same? Curious if folks would have any advice on a pivot strategy. I could do 20% down but from an IRR/investment strategy, the returns look very different/much lower.

Reaching out to the BP community for advice/thoughts.