Roger Theriault
MBA, REALTOR®
(561) 827-0899
Buyers rejoice! In 2007, Fannie Mae had designated Palm Beach County a “declining market” and since late last year was adding an extra 5% to most down payment requirements in our market area.
Fannie Mae changed that policy today:
In what might turn out to be a domino falling move, some lenders have been freezing or reducing access to existing home equity lines.
The mortgage crunch means buyers and sellers need to be more aware of who is funding their loan and whether the loan programs have changed since the application. It’s easy for lender problems to affect closings.