ReCasa Financial Blog

Mortgage rates are expected to rise as the pandemic recovery starts. Real estate professionals believe that people will be eager to purchase homes soon to take advantage of the low rates before the rise begins.

Many lending companies have had to make some changes due to the pandemic. Conventional loans used to finance investment properties are predicted to get more expensive and harder to obtain. Recently, Fannie Mae released news that starting April 1, 2021, their lending criteria will be stricter for investment/ second home financing. Only 7% of Fannie Mae portfolio will be investments/ second homes. According to Housingwire.com, these changes come due to recent “amendments to our senior preferred stock purchase agreement.” Each loan application will be run through an underwriting program to determine if the applicate is eligible.

Read the full article here - https://www.housingwire.com/articles/fannie-mae-tightens-
standards-on-investment-properties/

ReCasa Financial Group funds all loans in house, so we continue to keep the same lending criteria we have had in place for years. We will review a file submission in a timely manner and personally communicate with the client through the closing process, draw request process. We are always on hand to meet the needs of investor clients looking to purchase and improve property.