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Election years always have the potential to inject uncertainty into investment and securities markets… this year has been particularly interesting and it should be fair to say that the result of this election ties an enormous “?” to the end of 2016. Market uncertainty has been reflected in recent rate rises for investor mortgages.
Elysia Stobbe, NMLS# 146751 is not deterred by uncertainty. Elysia is not only a mortgage expert with NFM Lending, but with over 30 properties in her personal portfolio, she is also an experienced investor. She has shared her expert advice on numerous radio and television broadcasts and has authored a book on getting the best investor mortgages. She has been following changes to investor mortgages closely and is finding flexibility and continued promise for real estate investing.
3 Changes to Investor Mortgages
- .5% hike in mortgage rates driven 10 year treasury bonds post-election
- e.g. $300k loan sees monthly increase of $90
- Fannie Mae (FNMA) loan-to-value down-payment requirement 25% up from 20%
- Multi-property SFR (up to 4 units) investors can hold up to 10 mortgages if purpose is to purchase investment properties
- Cash-out options have been increased for investment properties
- Shows improved confidence in property equities
- Return of bank statement programs to bank portfolio loans
- Recent rise of investor rehab loans
- Investors can save cash while making properties rent-ready
- Lot loans
- Mortgage brokers/bankers
- Community banks
- While they may not be offer as much community banks generally offer better terms than national banks
- Big banks
- Alt. options: seller-financing; hard-money