Mortgage Options for Marijuana Industry Employees and Owners

As of late March 2019, ten states and Washington D.C. had legalized recreational use of marijuana and 33 states legalized it medically. Employees of this rapidly growing industry benefit from fair wages, job security, and diverse opportunity but can have trouble securing marijuana industry home loans. Fortunately, the economic outlook …

Fannie Mae’s HomeReady Program Allows for Cannabis Industry Financing

According to Forbes, spending on legal cannabis products is expected to hit an astounding $47 billion in North America alone within the next decade. Although the cannabis industry continues to grow throughout the United States, many lenders are still hesitant to provide financing for potential buyers in this line of …

Down Payment Assistance for Employees in the Cannabis Industry

Homebuyers using one of our first mortgage loan programs to finance their home purchase are eligible to use CHFA down payment assistance options. Even if you contribute towards a down payment, you may still use one of the options below: ​ Down Payment Assistance Grant * Up to 4 percent …

Portfolio Lenders Suspend Mortgage Financing for Cannabis Owners

UPDATE: Residential Financing for Cannabis Owners is Making a Comeback The trickledown effect of U.S. Attorney General Jeff Session’s rescission of the Cole Memo continues to frustrate business owners in the cannabis industry. The Cole Memo was brought forward by the Obama administration, the gist of the memo was that …

What’s the Ideal Credit Score for Landing a Mortgage? – Trulia

How to win at the credit score numbers game. If you’re considering making the leap to homeownership, there’s more to think about than the curb appeal of those Springfield, IL, homes for sale—the health of your credit score tops the list. To many, a credit score seems like a random …

Sessions’ move could slow cannabis investment money, but analysts doubt long-term impact – MJBizDaily

News that federal prosecutors have wider discretion to enforce federal drug law could put at least a temporary damper on investment money flowing into the U.S. cannabis sector, but analysts doubt the money will dry up.   U.S. Attorney General Jeff Sessions’ decision last week to rescind Obama-era protections for …

The Tension Between Financial Institutions and Recreational Marijuana Businesses – Bank Law Monitor

To date, eight states and the District of Columbia have legalized recreational marijuana. As you might expect, there are countless key players and businesses involved in the marijuana supply chain, including producers, processors, transporters, retailers, and in some jurisdictions, distributors. In Washington State alone, total sales since the state’s legalization …