Second Home Mortgage Programs from Main Street Bank
The Federal Housing Finance Agency (FHFA) announced targeted increases to Fannie Mae and Freddie Mac’s upfront fees for second home loans in January, which go into effect on April 1, 2022.
What does this mean for home buyers and realtors?
Buyers in the market for second and vacation homes will be most impacted by this change, and interest rates on these types of home purchases are expected to substantially increase across the market.
How Main Street Bank can help you.
We’ve built a mortgage program specifically for second home buyers at an affordable rate. If you are interested in purchasing a second home, Main Street Bank can help you get a better-than-market mortgage rate for your second home.
Why a Main Street Bank mortgage is different.
- Pre-approval commitment letters – a pre-approval from Main Street Bank is fully underwritten, meaning buyers have a competitive advantage when making an offer on a home.
- Direct access to decision makers – means buyers’ loans are handled and turned around more efficiently and with a higher level of care from local experts.
- Locally held and serviced loans – when you have questions, you speak directly to a Main Street Bank employee.
Yes, I want more information from a Main Street Bank mortgage lender.
Information sent by electronic mail is at risk of loss of confidentiality if the information is shared over the Internet. We strongly advise against sending confidential information, such as account numbers or social security numbers, by electronic mail.