More Changes For Condominiums

Fannie Mae will be adding a fee of .75 percent of the loan amount on a 30-year fixed mortgage, for borrowers who put down 25 percent of the purchase price or less, effective April 1.  There are other restrictive review guidelines, especially for Florida.  Lenders may start implementing these changes earlier since the April 1 is a “delivered loan” date (meaning closed, funded and packaged by the lender).

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