Saturday Strategy
Mortgage FAQ's, did you knows and much more...
House Hackers! Buy a Multi Family with 5 % Down!
Fannie Mae just made a big announcement that's going to make it easier for families to buy homes. Let's break it down in simple terms.
Here is the announcement from Fannie Mea on Oct 4 2023
Lower Down Payments for Multifamily Homes
Before this update, if you wanted to buy a multifamily home (that's a place with more than one apartment), you had to put down a big down payment – either 15% or 25%, depending on the unit you were buying. But starting in November, things are changing.
The Big Change
Now, if you're buying a multifamily home to live in as your primary home, you can put down just 5% of the cost of the home. That's great news because it means you don't need as much money upfront to become a homeowner.
There Are Some Rules
But hold on, there are some rules you need to follow. First, you have to live in one of the units for at least 12 months. That means it has to be your main place to live. You can't just buy it and then rent it out right away.
Why This Matters
This is a big deal because it helps people own homes and build wealth. Imagine buying a place with multiple units, living in one for a year, and then renting out the others. It's a smart way to invest in your future.
So, if you know someone who dreams of owning a multifamily home, share this news with them. It's a fantastic opportunity to make homeownership more affordable.
Have a fantastic weekend, everyone!
P.S. Can I count on you to call us when any friends, family or coworkers are looking to buy, sell or refinance a home? We'd love to help! You can just text/call me at 480.553.8770.
More Homes, Softer Demand, and a CPI Test for Rates
With active inventory rising 6.7%—the fastest growth since February—shoppers now have more options and stronger negotiating power in the housing market.
Renovate or Relocate? What Phoenix-Area Homeowners Should Know Before Deciding
You have spent years making your house feel like home. Maybe you raised kids here, hosted every holiday, and know every neighbor on the block. So when you start thinking about the next chapter, it is natural to wonder whether this is still the place you want to spend it. Some homeowners want to stay…
Two Moves That Can Get You Into Your First Home Sooner
For a lot of first-time buyers, owning a home can feel perpetually a few years out of reach. Saving for a down payment takes time, and each year you spend renting can make owning feel further off. But buying your first home doesn’t have to happen to feel like a far away goal. Two choices…
Buyers Gain Leverage as Inventory Climbs and the Fed Slows Down
Inside lending FOR THE WEEK OF October 5, 2026 QUOTE OF THE WEEK “A year from now you may wish you had started today.” — Karen Lamb, British author & illustrator NATIONAL MARKET UPDATE Active inventory climbed 6.3% from last year, the strongest growth in at least six months. September inventory is now just 9.1%…
What Higher Mortgage Rates Mean for Home Sellers
Higher mortgage rates don’t just affect buyers. They can change what it takes to sell your house, too. That’s because today’s buyers are paying close attention to affordability. And when rates rise, even a relatively small change can make a noticeable difference in their monthly payment. So, they’re looking for ways to make the numbers…
Hoping for (or Dreading) a Housing Crash? Here’s the West Valley View
Every few weeks, a buyer tells me the same thing: “I’m going to wait for prices to drop.” I understand why. Phoenix prices climbed fast, and a lot of people feel locked out. A recent Clever survey found 58% of Gen Z buyers are actually rooting for a crash, just so homeownership feels within reach.…
More Homes, Higher Rates: What This Week’s Numbers Mean For You
Inside Lending FOR THE WEEK OF September 28, 2026 QUOTE OF THE WEEK “If you don’t know where you are going, you might wind up someplace else.” — Yogi Berra, American baseball player and manager NATIONAL MARKET UPDATE Active inventory climbed 5.8% from last year and topped 1.17 million homes, remaining near its highest level…
The Mortgage Rate You See Online Isn’t the One You’d Get in Metro Phoenix
You’ve probably seen the headlines saying mortgage rates have climbed to their highest point since January 2025. If that’s making you hesitate on a home search in Scottsdale, Gilbert, Buckeye, or anywhere else in the Valley, here’s the thing to remember. That headline number isn’t necessarily your number. It’s one of the most common misconceptions…
The Fed Just Raised Rates. Buyers Still Have Leverage.
Inside Lending FOR THE WEEK OF September 21, 2026 QUOTE OF THE WEEK “You can’t wait for inspiration. You have to go after it with a club.” — Jack London, American novelist NATIONAL MARKET UPDATE Active inventory climbed 5.0% from last year and remains near its highest level since 2019. More homes to choose from,…
Jobs Keep Rates Higher but Buyers Just Got More Leverage — Here’s What’s Behind It
Inside Lending FOR THE WEEK OF September 8, 2026 QUOTE OF THE WEEK “A person who never made a mistake never tried anything new.” — Albert Einstein, Theoretical physicist NATIONAL MARKET UPDATE Housing inventory reached 1.15 million homes, the highest level since 2019 and up 4.7% from last year. More choices and softer prices continue…
P.S. Can I count on you to contact me if you hear that a friend, family or coworker is looking to buy, sell or refinance? Call/Text 480.553.8770 - We'd be honored to help them too!