John Meussner, #MortgageMadeEasy Fair Oaks, CA 484-680-4852 (Mortgages in AZ, CA, CO, DE, FL, GA, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI)

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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate





Nov 29, 2022 04:18 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

You lost me at government, John. Not much of what they're doing is helping anyone but themselves!

Nov 29, 2022 02:29 PM
John Juarez
The Medford Real Estate Team - Fremont, CA

Your question is misleading, John Meussner, since a reader might believe that all that is needed for a $1M Freddie Mac or Fannie Mae loan is a 5% downpayment. Also, if the reader is not paying attention, the reader may believe that this program is available everywhere, not just in "high cost" areas.

The loans would still need to be fully and properly underwritten with all exiting criteria regarding income, credit and whatever else the underwriters require.

Fannie and Freddie standard limit for loans not in "high cost" areas will be $726,200.

According to this article from Mortgage News Daily.

Nov 29, 2022 05:02 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

It will Help Sellers unload their properties.

It will help Buyers over-extend themselves, and get buried in debt.

Nov 29, 2022 07:20 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Short answer NO!  My answer to your elongated question is not if the only qualification is that they have 5% down. Hopefully they demand a three to five year track record of making a profit.

Nov 29, 2022 12:42 PM
Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

It's a double-edged sword, John. I want to say no but, I'm not in a high cost area. As well, it will HELP the market by moving some of these higher priced homes. 

So, in a nutshell, it depends!

Nov 30, 2022 05:33 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

For fear of getting into trouble, I am simply going to agree with Wanda Kubat-Nerdin - Wanda Can! and Kathleen Daniels, Probate & Trust Specialist and move on!

Nov 30, 2022 04:30 AM
Peter Mohylsky
PMI. Destin - Miramar Beach, FL

Not a fan there but the devil is definitely in the details.  

Nov 29, 2022 03:38 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor


Nov 30, 2022 04:54 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I think that having a higher loan limit helps since prices have risen so high.  I don't trust the government to do the right thing though.

Nov 30, 2022 04:48 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I am sure that it helps us to sell a few more high end properties, though I personally am not a fan of having the govt involved in the housing market.

Nov 29, 2022 06:51 PM
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

Sure, why not.  Most importantly perhaps is they are setting as a benchmark certain proven underwriting standards.

Nov 30, 2022 05:39 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

We will need more than ever the help of lenders/banks to vet correctly all applying for funds. If THEY decide it is worthy, then proceed as it will be business as usual. As far as having a loan program available for that amount, with the price of Real Estate, cars and technology on the rise and still moving, that is exactly what these loans are designed to do i.e., allowing people to be a player and keep the economy-machine going.

Nov 29, 2022 02:52 PM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Seems like a 1M FHA loan of sorts. There all kinds of wacky products coming back on the market so here's an example of another one.

Nov 30, 2022 05:54 AM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I'm not sure the government needs to be any more involved in the housing market than it is. Having said that, IF the borrower is qualified to leverage their money . . . sure.

Nov 30, 2022 06:56 AM
Roy Kelley
Retired - Gaithersburg, MD

This program does not bother me. The borrowers need to be qualified for the financing.

Nov 30, 2022 11:37 AM
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

clearly the gubment doesn't give a hoot about what people with a lick of sense think, so not gonna give this a second thought.

Nov 30, 2022 08:59 AM
Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

They will help the future foreclosure market as people will be in way over their heads yet again.  Loan programs, proof that we learn nothing from our mistakes.

Nov 30, 2022 08:12 AM
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

I am not a fan of government in any respect to our daily lives.

Nov 30, 2022 07:34 AM
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I think it's great as move up buyers allow lower priced buyers the opportunity to buy a house.

Nov 30, 2022 06:51 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

The 5% down does not hedge when home valuation falls like now. With the recent firing in high tech, I wonder if some the entranched employees can hold on to their homes.  Time will tell.

Dec 07, 2022 08:23 AM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

I sort of have a mixed reaction to this for my local market. The higher loan limits are helpful here...but most buildings here are portfolio lending. Most condos here are seeking a minimum of 10% down and most co-op's require a minimum of 20% down.

Overall outside my local market- While I do like the higher limits in high cost areas- the 5% down aspect troubles me. 


Dec 02, 2022 11:48 PM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

I think it was needed. Home averages have gone up. Also, if a person can afford that payment, there's a good chance they have money elsewhere or have a lot of potential. 

Dec 02, 2022 12:10 PM
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Hurt - these relaxed terms will expedite a market crash.

Nov 30, 2022 12:54 PM
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

As a former veteran, I say in some cases, but not all.

Nov 30, 2022 12:52 PM