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Fannie Mae expands voucher program for multifamily landlords

Housing Wire

The pilot program incentivizes borrowers of Fannie-backed multifamily loans to accept vouchers as a valid source of income. Fannie said that about 30% of voucher holders are unable to find housing that accepts their vouchers as income.

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A new source of affordable housing inventory: Private seller auctions

Housing Wire

Tony Richards recently purchased four properties in his hometown of Montgomery, Alabama. He bought it from an outside landlord who didnt have the local market knowledge or presence needed for property management. All four of the properties are in underserved neighborhoods as defined by the Federal Housing Finance Agency (FHFA).

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Waltz launches streamlined financing option for international homebuyers

Housing Wire

.” Foreign investors can purchase or refinance property through Waltz for a loan-to-value ratio of up to 70%. Loans are asset based and rely on the cash flow of the property rather than the borrower’s personal income. Buyers can also use Waltz to connect with a property manager or tax adviser.

Finance 444
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How to Buy Multiple Rental Properties With Financing Options

The Close

Stabilize & Season Your Current Rental Property If you plan to finance multiple rental properties, start by stabilizing your current one. Lenders prefer to see fully stabilized properties when you’re looking for home equity loans or lines of credit. Zillow pulls its listing info from both MLS and other sources.

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New program offers support to Florida’s first-time homebuyers

Housing Wire

The educational program will include weekly sessions covering the basics of home financing, mortgage preapprovals, building a support team of professionals, analyzing property options, and learning creative affordability strategies such as co-buying and house hacking.

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Fannie Mae clarifies ARM interest rate, ups cash-out refi term on manufactured homes

Housing Wire

With this update, we are further clarifying that borrowers must be qualified using no less than the note rate for 7- and 10-year ARMs that are not high-priced mortgage loans or higher-priced covered transactions,” a change that goes into effect immediately.

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NAF in talks to acquire Draper & Kramer Mortgage Corp.: sources 

Housing Wire

As part of the deal , NAF would acquire the residential mortgage arm of Draper & Kramer , a property and financial services group established in 1893 by Arthur W. If the deal goes through, the companies would have about 2,130 loan officers, which includes 1,884 from NAF and 251 from DKMC, per data collected as of Jan.

Mortgages 364