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.
🏡 Buyer Leverage Grows as Price Cuts and Inventory Rise 📉📈
Inside Lending For the week of JULY 7, 2025 QUOTE OF THE WEEK “Cure for an obsession: get another one.”—Mason Cooley, American aphorist NATIONAL MARKET UPDATE Residential construction spending slowed a trifle in May compared to the revised estimate reported for the month before. Homebuilders are curtailing spending as they focus on completions to meet…
What You Should Know About Getting a Mortgage Today
Monday July 7th, 2025 If you’ve been putting off buying a home because you thought getting approved would be too hard, know this: qualifying for a mortgage is starting to get a bit more achievable, but lending standards are still strong. Lenders are making it slightly easier for well-qualified buyers to access financing, which is…
Think No One’s Buying Homes Right Now? Think Again
Thursday July 3rd, 2025 If you’ve seen headlines saying home sales are down compared to last year, you might be thinking – is it even a good time to sell? Here’s the thing. Sure, the pace of the market has cooled compared to the frenzy we saw just a few years ago, but that’s not a…
Why Big Investors Aren’t a Challenge for Today’s Homebuyer
Wednesday July 2nd, 2025 Remember the chatter in the headlines about all the homes big institutional investors were buying? If you were thinking about buying a home yourself, you may have wondered how you’d ever be able to compete with that. Here’s the thing. That’s not the challenge so many people think it is –…
Top 5 Reasons To Hire a Real Estate Agent When You Sell
When it’s time to sell your home, hiring a skilled real estate agent can be the smartest move you make. While selling on your own might seem tempting, having an experienced agent in your corner can help you sell faster, for more money, and with fewer surprises along the way. Here are the top five…
📈 More Jobs, Higher Wages, and a Shift Toward Buyers 🏡
Inside Lending – For the week of JUNE 30, 2025 QUOTE OF THE WEEK “Those who expect to reap the blessings of freedom, must undergo the fatigue of supporting it.”—Thomas Paine, English-born American Founding Father NATIONAL MARKET UPDATE The National Association of Realtors (NAR) reported Existing Home Sales rose in May, and for the second…
What Every Homeowner Needs To Know In Today’s Shifting Market
Thursday June 26th, 2025 Here’s something you need to know. The housing market is getting back to a healthier, more normal place. And even though it may not sound like it, this shift is actually a good thing. It’s what you should expect. It’s just that our expectations have been skewed by the intense seller’s market over…
Why Homeownership Is Going To Be Worth It
Monday June 23rd, 2025 Life can feel a bit unpredictable these days. What’s happening with inflation? The economy? The housing market? But in the middle of all that uncertainty, there’s one thing a lot of people still crave – a place to call their own. Because when everything else feels up in the air, home…
🎯 Why Your Home’s Asking Price Matters More Than Ever
In today’s real estate market, your asking price isn’t just a number—it’s a strategy. As more sellers enter the market, buyers are gaining options. That means pricing your home correctly right out of the gate is more important than ever. Unfortunately, many homeowners are missing the mark… and the data shows it. 📉 The Return…
Think It’s Better To Wait for a Recession Before You Move? Think Again.
Wednesday June 25th, 2025 Fear of a recession is back in the headlines. And if you’re thinking about buying or selling sometime soon, that may leave you wondering if you should reconsider the timing of your move. A recent survey by John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) shows 68% of people are delaying plans to buy or…
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!