All Forum Posts by: Jeff Chisum

I would highly recommend looking at the 10% down second home occupancy loan for financing.

You potentially could use a 10% down STR loan.

 Great point!

Fannie Mae and Freddie Mac offer mortgage relief to homeowners impacted by natural disasters, including those with second homes in areas like North Carolina and Florida. If your second home is located in a federally declared disaster area, you may be eligible for temporary mortgage relief options such as:- **Forbearance**: A temporary suspension of mortgage payments for up to 12 months.- **No Late Fees or Penalties**: During the forbearance period, you won't be charged late fees or have delinquencies reported to credit bureaus.- **Repayment Options**: After the forbearance period, you won’t be required to repay all missed payments at once. Your loan servicer will work with you on a manageable repayment plan.To access relief, contact your mortgage servicer, as they will guide you through the available options based on your specific situation [oai_citation:4,Mortgage Assistance for Those Impacted by Recent Natural Disasters - Freddie Mac](https://www.freddiemac.com/about/hurricane-relief) [oai_citation:3,Disaster Response | Fannie Mae](https://singlefamily.fanniemae.com/disaster-response). If you're unsure whether your mortgage is owned by Fannie Mae or Freddie Mac, you can use their online loan lookup tools to verify [oai_citation:2,For Homeowners Affected by a Natural Disaster](https://myhome.freddiemac.com/docs/Natural_Disaster_Relief_Consumer_Flyer_GSEs.pdf?file=2024-07/Natural_Disaster_Relief_Consumer_Flyer_GSEs.pdf) [oai_citation:1,Disaster Resiliency and Relief | Fannie Mae](https://www.fanniemae.com/about-us/what-we-do/disaster-resiliency-and-relief).Send me a DM if any of these resources don’t lead to a solution and I can offer guidance.

What do you consider Jumbo? What purchase price are you looking at.  What type of property?

Sorry I didn’t see this sooner.  I have a unicorn 10% down product that is not Fannie and Freddie so does not have the loan level pricing adjusters that others have mentioned.

All In One loan may be a good solution

When a loan is brokered out, it often leads to uncertainty because the originator may not have all the details upfront, especially if the lender's preferences change or they're not familiar with recent updates. A good first question to ask your loan officer is, "Are you brokering my deal?" Personally, I believe it's better to work with a lender who is fully delegated by the investor. For instance, the DSCR loans we originate are not brokered out. We are fully delegated and have worked with the same investor for three years, which provides more stability and confidence in quoting terms, fees, and expectations from the start.