The Federal Housing Finance Agency will raise fees next year and lenders will have to pay more to have Fannie mae and Freddie mac to guarantee their loans. What does this mean for sellers and buyers in Atlantic County NJ? Not exactly sure yet but it could mean that the cost of getting this type of loan could go up and sellers may have to wait longer to find qualified buyers because buyers may have to qualify with higher scores and higher downpayments. With the jobs situation looking the way that it does now, this may not be good news for both sides.
Unfortunately, we’ll have to wait and see when it happens and all of the particulars are spelled out.
Well, it looks like we’re in a wait and see mode right now and time will tell. Stay tuned.