Fannie Mae & Freddie Mac are introducing new pricing for investment purchases. This will incur, either more money to close, or approximately 0.25% higher rates for your investment buyers.
- Loan to value of 75% or less will have a 1.5% discount point
- Loan to value of 75.01% to 80% will have a 2% discount point
- Loan to value of 80.01% to 90% will have a 2.5% discount point
This will take effect as of May 1st, 2008 (next week…) so if you are an investor sitting on the fence you may want to lock ASAP to take advantage of the much lower discount points currently in effect.
If you want the details of this change please contact your lender. This information was provided by Frances Wehner with CTX Mortgage Company. Mail to: frances.wehner@ctxmort.com
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