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Updated about 4 years ago on . Most recent reply

Geoffrey Gabala's profile image
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Geoffrey Gabala
  • from Cincinnati, OH
  • Member since Jun 25, 2020
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Geoffrey Gabala's profile image
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Geoffrey Gabala
  • from Cincinnati, OH
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Geoffrey Gabala
  • Cincinnati, OH
5
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Private Lending & Conventional Mortgage Advice

Freddie Mac Home Possible Loan Change

Geoffrey Gabala
  • Cincinnati, OH
Posted

Hello,

Has anyone heard about changes to the Freddie Mac Home Possible Loan for multifamily (2-4 units)?

We just got into contract to find out that the 5% down will only be honored with a closing date of 2/15/2021. Anything closing using a HP loan beginning today requires 15% for mf.

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Eric Veronica
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  • from Cleveland, OH
  • Member since Sep 4, 2011
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Eric Veronica
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  • from Cleveland, OH
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Eric Veronica
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  • Cleveland, OH
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Eric Veronica
  • Lender
  • Cleveland, OH
Replied

@Andrew Postell

It was addressed on Freddie's bulletin 2020-45 released on 12/2/2020.  Below are the snippets from the bulletin pertaining to the Homepossible change.  :-(

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