Fannie Mae will increase the loan limit of small mortgage loans to $6 million from $3 million or less nationwide and $5 million or less in high-cost markets, effective immediately.
The aim, says the organization, is to "ensure an adequate supply of affordable housing for working families" and provide more opportunities for borrowers to realize the benefits of streamlined third-party report, underwriting, and asset-management requirements.
Read more...Fannie Mae Increases Multifamily Small-Loan Limits via Multifamily Executive
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