What is an Annual Percentage Rate (APR)? APR attempts to factor in upfront costs to…
Changes coming on April 1 will greatly increase the cost of a second home.
Starting April 1, second home purchases could be more expensive. Fannie Mae and Freddie Mac are changing their loan-level price adjustments causing rates to increase for second homes. If you are looking to purchase a second home, make sure to finish your purchase quickly.
In some cases, this could cost you tens of thousands of dollars. Even in the best scenario, it will cost thousands. If you’re unsure of how much this change will affect you, please give us a call, and we will do the math for you.