01/07/2022
🚨BREAKING NEWS 🚨
Fannie Mae announced Second Home occupancy homes will soon have similar rates as investment property occupancy.
Second Home occupancy has been a long time Life Hack. You could secure a home in a vacation area with only 10% down and get basically the same rates as a primary residence.
With Airbnb and Vrbo becoming such a profitable investment, we believe that may have caused the change. Most of these “second homes” really have become full scale investment properties for investors.
Investment property rates are typically anywhere from .5%-1% higher than primary residence rates/second home rates. Second home rates are now expected to mirror investment rates come April 1.
If you are looking to lock in a second home purchase, make sure to get your rate locked before April 1. 🔒📈