New rules and restrictions are coming. Zero down-no more…..
Affected loans are:
Mortgages for certain second home purchases.
Short-term construction loans that convert to permanent mortgages.
Cash-out refinances.
Investment loan applications where the buyer already owns at least three other rental properties.
Loans with anything less than full documentation of borrower income, credit and assets.
Too new credit with thin files.
Freddie Mack [...]
