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UNFORESEEN CONSEQUENCES?

There are lots of changes happening and proposed in the future that can or will affect the real estate market. For instance, loan applicants who are non-permanent residents can no longer apply for a FHA Loan. These are normally lower down payment loans. They are beneficial for someone working in the U.S. long term with a work visa in biotech or tech. This allows them to make a smaller down payment to be able to “get into the market”.

Freddie Mac and Fannie Mae just lost about half of their Board members. It’s been suggested to privatize these to Federal programs; they are government-sponsored enterprises (GSEs) today. Freddy and Fannie back home mortgages up to $806,500 which is about 70 percent of the U.S. mortgage market. Privatizing Freddy and Fannie could be a money maker for investors that take them over. However, the home buyers would likely make homes more expensive with higher interest rates.

There may be more that I’m not aware of. I’ll include more next month.