Fannie Mae will soon be implementing new guidelines for the mortgage that a huge amount of home owners, investors will be interested and will soon be home buyers. This important change has to do with the loan enabled the values on a variety of types of loans. For those of you who do not know what loan to value (LTV) is not, is the ratio of mortgage balance on the home value. For example, if you enter a $ 80,000 mortgage on a home $ 100,000, LTV = 80%

See Relatedchanges below:

Cash primary residence by Nance
1-2 units at 90% / 90% (ongoing)
85% / 85% (new changes)
660 score required if LTV> 75%

Second Home Cash Out
Refinance
1 unit 85% / 85% (current)
75% / 75% (new changes)

Non-owner Purchase 1-2 Units
90% / 90% (ongoing)
85% / 85% (new changes)

Owner not Rate / Term Nance
1-2 units at 90% / 90% (ongoing)
75% / 75% (new changes)

Not owner Nance payments
1-2 units 85% / 85%(Current)
75% / 75% (new changes)

As you can see, these new changes will affect significantly the loan enabled the values on different types of mortgage transactions. It can be a good thing as Fannie Mae and Freddie Mac can see, is a desperate need for more investment. Gone are the days of 100% Loan to value for investors and home buyers also the first home time. Rural 100% Programs and VA still at 100% for those who qualify.

Another important note for the loanOfficers:

System of Fannie Mae DU will no longer be the exemption of income. It must at times in early November. This is just another change that we all hope to help the mortgage markets and feet.