http://wealthcreationteam.ning.com/video/investment-properties-included
Hello Friends!
Wow, I didn't see this one coming! I was shocked to realize that after attending more training on these Refi Programs, I had my transaction coordinator run an investment property through Fannie Mae's "DU" on the new DU Refinance program only to get an approval with an appraisal waiver AND NO HITS TO THE RATE! I had to pull the guidelines from a few lenders that are currently offering the program to make certain this was not a mistake and all of them state that second homes and investment properties qualify both in the Fannie and Freddie programs as long as they are coming from either Fannie or Freddie and going back to Fannie and Freddie.
This is HUGE! This means for all of you that own investment properties, most likely your rate has been much higher than normal conforming rates of the past, you can now get the same low rate as you would on your primary residence, WOW!
Talk about making your properties cash flow. And if you are a realtor wondering how this effects your current purchase and listing business, I see a big connection! If your clients that own investment properties have been leery about buying more in this market, if they know they can refinance their other properties into a MUCH lower rate, this would free them up most likely emotionally and economically to pull the trigger on buying another investment property.
Please watch the video for more details!
Be Blessed!
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