Good news for clients who are looking to purchase or refinance a second home or investment property.

In March 2021, the Federal Housing Finance Agency, put in place a series of changes that impacted clients who were looking to finance a second home or investment property. These changes resulted in a large increase in rates for clients who needed to finance one of these properties.

The good news is this week those changes were reversed. This resulted in a favorable change in options for clients who need to finance one of these properties. When you combine that with the recent removal of the “Refinance Tax“, clients who are looking to refinance an investment property or second home see even greater savings.

We are excited to see these changes as they allow clients access to more favorable loan terms which helps to make owning these properties for affordable.

As a reminder for clients who are considering a purchase of investment property, I encourage you to use our investment property calculator. It is a dynamic tool that will help you to understand the financial metrics of an investment into a new property.

If you have questions on financing a second home or investment property, please feel free to contact our team. We are always here to help.