What are Mortgage Overlays? Lender Guidelines Explained!

By
Real Estate Agent with Berkshire Hathaway HomeServices Preferred Real Estate, Inc.; www.AuburnOpelikaALRealEstate.com

Are you planning on buying a house in Auburn or buying a house in Opelika and are wondering the best mortgage product for you? Maybe you have heard the term mortgage overlay and are wondering what it means. Technically speaking, a mortgage overlay are specific rules a lender follows ABOVE the published guidelines for lending money in the form of a mortgage. Each lender will usually have their own internal mortgage overlays that are applied to mortgage loans along with the rules set forth by Fannie Mae, Freddie Mac, FHA, VA and USDA.

The mortgage overlays are determined by the lender’s ability to handle risk as well as the current economic conditions. This means that the overlays can get stricter in tough economic times and become more lenient in prosperous times.

Details about Mortgage Overlays

For all of your real estate needs in the Auburn-Opelika area please contact me at  (334) 332-7263 or email me at LauraSellers01@Gmail.com or visit my website. I look forward to helping you buy the home of your dreams or sell your existing home.  Search for Auburn homes for sale or Search for Opelika homes for sale here.

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Laura Sellers

Associate Broker, Realtor, GRI

Berkshire Hathaway HomeServices 

Preferred Real Estate, Inc.

1810 E. Glenn Avenue, Suite 130

Auburn, AL 36830

Phone: 334-332-7263

Fax: 1-888-217-3682w

 

www.AuburnOpelikaALRealEstate.com 

 

TO VIEW HOMES FOR SALE IN THE AUBURN-OPELIKA AREA PLEASE CLICK HERE.

 

EXPERT IN AUBURN - OPELIKA - REAL ESTATE SERVICES

If you are buying or selling  property in the Auburn - Opelika, AL  area, my team and I will provide you with the service that you need.  We're the #1 real estate company in Auburn's #1 office.  

Please call me today at (334) 332-7263.

 

To view homes for sale in the Auburn - Opelika area please click here. 

 

Referrals are always welcomed and appreciated, Thank-you!

 

 

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Topic:
Home Buying
Location:
Alabama Lee County Auburn
Tags:
home loan auburn
houses for sale auburn
mortgage overlay auburn
mortgages auburn
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www.AuburnOpelikaALRealEstate.com
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