Mortgage Banking

Business as usual…That’s what I’m hearing from my Fannie Mae contact. Spreads have lowered a bit, combined with the T-bill yield drop, rates are looking good. The only change that Fannie has made so far is lowering the amount of Interest Only for Tier 2 deals. A Tier 2 deal is a highly leveraged, low DSCR loan where as a Tier 4 deal is low LTV, high DSCR (Tier 3 is in between). Tier 4 loans can still get 10 years of Interest Only, Tier 2 loans now only get two years and Tier 3 loans can get five years). If you must have 10 years of Interest Only, contact me at Jordan(at)JordanCrouch.com ASAP. There is still a few days to get 10 years IO.

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