According to Fannie Mae’s underwriting guidelines, the investment property mortgage down payment requirement is 15%. A policy change recently by the giant mortgage investor fannie mae symbolized a. home buyer – the mandatory down payment. The down payment served to assure the lender that the buyer had a personal.
Fannie Mae Guidelines On Second Homes And Investment Properties – Fannie Mae Guidelines On Second homes require 10 % down payment and that the second home be at least 60 miles away from primary residence. mortgage rates on second home loans are similar to primary homes. Second Home Loans are not available with government loans.
For a living lesson in the slippery moral and economic consequences of government intervention in the home loan market look no further than America’s mortgage giants fannie mae and Freddie. then.
In June of 2018, Fannie mae announced significant changes to their guidelines regarding the review of condos. The government-backed company will now allow a limited review for the purchase or refinance of a condo unit if the borrower can bring a 25% down payment.
Fannie and Freddie Fannie Mae and Freddie Mac guarantee more than half the country’s mortgages. At the end of 2014, the two government-backed companies announced plans to slash minimum down payments.
Even today, low down payment and no down payment programs are not popular with some lenders and policy-makers. They argue that owners with low or no down payments have less of an investment in.