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.
Liquidity Matters More Than a Paid-Off Mortgage
Most people were raised to believe the ultimate financial goal is a paid-off house. It feels safe, it feels responsible, and it feels like the “right” thing to do. But when you look at it through the Borrow Smart | Repay Smart lens, you realize something important: equity is not the same as liquidity—and liquidity…
More Listings, Easier Credit, and the Strongest November in 3 Years
Inside Lending – Week of November 17, 2025 QUOTE OF THE WEEK “If you want to kill any idea in the world, get a committee working on it.”—Charles Kettering, American inventor, engineer, and businessman NATIONAL MARKET UPDATE The Mortgage Bankers Association (MBA) noted homebuying got off to its strongest November start in three years, as…
Would You Let $80 a Month Hold You Back from Buying a Home?
By Kevin Brierton | Your No Excuse Lender A lot of buyers are stuck in “wait and see” mode right now. They’re watching rates hover a little above 6% and thinking, I’ll buy once they hit the 5s. Because who doesn’t want a better rate? But here’s the thing: that 5.99% number might not save you…
Why Your Home Equity Still Puts You Way Ahead
If you’ve seen headlines about home prices dropping, it’s easy to wonder what that means for the value of your home too. Here’s what you really need to know. Even with small price declines in some markets, data shows you’re likely still way ahead. And that’s thanks to your home equity. The Relationship Between Home Prices and Equity Home…
Are Builders Overbuilding Again? Let’s Look at the Facts.
If it feels like you’re seeing new construction signs pop up everywhere, you’re not wrong. Builders have been busy. And it’s left some people wondering: Are we overbuilding like we did right before the 2008 housing crash? No matter what you may hear in the news, there’s no reason for alarm. In reality, data shows builders aren’t racing ahead, they’re…
The New “Location, Location, Location”: Borrow Smart, Repay Smart™
For decades, real estate success was defined by one phrase — location, location, location.But today, the smartest homeowners and advisors know the game has changed.The new mantra is Borrow Smart, Repay Smart™. True financial success isn’t about where you buy — it’s about how you borrow, manage, and repay. The old “location” used to refer…
The VA Home Loan Advantage: What Every Veteran Should Know Right Now
If you’ve served in the military (or if your spouse has), you have access to one of the most powerful homebuying tools out there. The chance to buy a home without having a down payment. Unfortunately, 70% of Veterans (that’s 7 out of every 10) don’t know about this benefit, according to Veterans United. And that’s a big…
Affordability Is Improving—And Buyers Are Taking Notice
Inside Lending – Week of November 10, 2025 QUOTE OF THE WEEK “When we ask for advice, we are usually looking for an accomplice.”—Saul Bellow, Canadian-American writer NATIONAL MARKET UPDATE Freddie Mac’s Chief Economist noted that in the current market, on a median-priced home, a homebuyer could “save thousands annually compared to earlier this year,…
What a Government Shutdown Really Means for the Housing Market
There’s been a lot of talk lately about how a government shutdown impacts the housing market. You might be wondering: Is it causing everything to grind to a halt? The short answer? No. The housing market doesn’t stop. It keeps moving. Homes are still being bought and sold, contracts are still being signed, and closings are still…
Rates Down, Inventory Up—Buyers Regain Leverage
Inside Lending – Week of November 3, 2025 QUOTE OF THE WEEK “Most of what we call management consists of making it difficult for people to get their work done.”—Peter Drucker, Austrian American management consultant NATIONAL MARKET UPDATE September’s Pending Home Sales index of signed contracts on existing homes was unchanged for the month, and…
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!