Monday, April 16, 2012

Fannie Mae: All States Not Equal

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Here are today’s interest rates for apartment loans using Fannie Mae.  There are different terms for different regions in the country. It is my understanding that the state of Michigan is the only state that is entirely under tier 4. These programs are available with total closing cost of 1% with a .14% rate increase.

As a result, many apartments in Michigan cannot take advantage of today's low rates because the maximum loan amount exceeds 55% of value.

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