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Financing Rules Are Changing . . . Again

Apr 24th, 2008 | By DebOnTheWeb | Category: Real Estate

Stay tuned because soon there will be new financing rules whether you’re looking to buy, refinance or sell. Yes, if you’re looking to sell and not buy again, these changes will effect you as well, since your buyer will need to qualify with the new rules. Who’s making these new rules you ask? Good question! They are coming from a multitude of places. . . PMI companies as well as Fannie Mae and Freddie Mac. Although we don’t know everything yet, we’ll definitely be seeing higher downpayment requirements. (Many PMI companies have now changed their rules so that condo purchases need a minimum 10% downpayment.) I’ll update you as soon as I know more.

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