New Restrictions Mean Increased Mortgage Costs on Second Homes

Fannie Mae recently decided to limit the number of investment property loans that they would purchase. This means lenders are passing the costs along to buyers, who could face additional fees of 2.5% to 5% or more, depending on the down payment. Additionally, lenders will likely have to be even more selective when it comes to giving out loans. Fortunately, there are a few ways you can limit your costs and increase the strength of your mortgage application.

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