Hi, this is Kevin Brierton, Sr. Mortgage Loan Originator with First Choice Loan Services Inc., and I have great news!
Fannie Mae announced on June 30th a tremendous change in their guidelines that have been preventing some of your best clients from purchasing a home.
The most notable lift is the removal of additional reserve and equity requirements for borrower vacating or converting their current primary residence. Prior to this change, if an applicant wanted to purchase a new primary residence and retain their current home, either to be sold at later time or retained as a rental, additional reserve and equity requirements above the standard had to be applied, and that can be a significant amount of money!
Now, we are able to follow agency standards without the additional reserves and equity requirements!
If you or someone you know might benefit from this change, please call me on my cell phone which is 480-251-6141 – again that is 480-251-6141.
Make it a great day!
