Fannie Mae: A Guide to Fannie Mae and How it Affects the Long Beach Island New Jersey Real Estate Market
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Fannie Mae and the LBI Real Estate Market 
Fannie Mae and the LBI Real Estate Market 
Fannie Mae and the LBI Real Estate Market
Long Beach Island Real Estate
Fannie Mae is one of the world’s largest and most famous companies. While its role in the LBI real estate market is limited, it is still important. Fannie Mae was created to help people gain access to homeownership by providing a liquid market for residential mortgages, which are some of the most common types of financing in the Long Beach Island real estate sales market. Fannie Mae conducts business through FannieMae Mortgage Corporation, regulated by federal law.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Fannie Mae and the LBI Real Estate Market
One of the most critical public benefits is that it helps keep mortgage rates low for borrowers. Fannie Mae offers liquidity in the secondary mortgage market – this means that FHA can create more affordable loans with lower interest rates than other lenders. Buyers and sellers should be well aware of this since the LBI real estate market is comprised of so many second-home transactions and investment properties.
Fannie Mae has impacted the Long Beach Island New Jersey real estate market because it helps make loans available to more borrowers. Fannie Mae allows FHA-approved lenders to finance up to 96.25% of the after repaired value (ARV) on one-unit properties or 90% on multi-unit properties in Long Beach Island, NJ if they meet certain conditions and requirements. It is essential to mention that all buyers and borrowers should discuss their financing options with a lender to understand what they qualify for in the LBI real estate market.
What is Fannie Mae? Congress created Fannie Mae in 1938 as part of the Housing Act of 1937, which regulates government-backed mortgages (mortgages insured by the Federal Housing Administration or Farmers Home Administration). Lenders can purchase these loans from Fannie Mae at a discount so that they can offer more affordable rates on their mortgages.
Fannie Mae: A Guide to Fannie Mae and How it Affects the Long Beach Island New Jersey Real Estate Market
Buyers in the Long Beach Island NJ real estate market should be aware of all lending options and the types of loans available to them. The rules of lending, and therefore the types of mortgages that can be used to fund the purchase of a home, are constantly changing. All buyers considering financing a home should speak with multiple lenders to fully understand their options. For more information about buying, selling or investing in the Long Beach Island real estate market please do not hesitate to contact me.
By : Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
More LBI Real Estate Information:
New Construction Upgrades in the Long Beach Island NJ Real Estate Market
The Hidden Costs of Buying a Home in the Long Beach Island Real Estate Market
Two Reasons the LBI Real Estate Market is Not in a Bubble
Pre-offer Home Inspection for Buying a House on Long Beach Island