Why Freddie Mac Won’t Allow Marijuana Financing for Real Estate Lending

The cannabis industry in the United States continues to grow at a rapid pace. While states such as Colorado, California, and Washington are the frontrunners in recreational marijuana use, other states are expected to become major players in the cannabis economy. With so many areas beginning to embrace recreational marijuana …

How Cannabis Industry Employees Can Improve Their Credit Score

The cannabis industry is booming in the United States and beyond, and employees of this robust economy often benefit from job security and a steady income. If you’re part of the cannabis industry and you’re interested in becoming a homeowner, you may be on the search for ways to improve …

Why Lenders Won’t Allow Undeposited Cash to be Used as a Down Payment

The cannabis industry is a lucrative business, and it’s quickly growing throughout the United States. In areas like Colorado where recreational marijuana has been legal for years, many cannabis dispensary owners and employees are thriving. According to CNBC, Colorado’s recreational marijuana sales topped $1.55 billion in 2018, and this booming …

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 …

Mortgage rates fall to one-year low, setting the stage for a sunny spring selling season – MarketWatch

Rates for home loans fell to the lowest in over a year as investors remained concerned about economic headwinds, setting up the housing market for a strong spring season. The 30-year fixed-rate mortgage averaged 4.35% in the February 21 week, mortgage guarantor Freddie Mac said Thursday. That was down from …

Residential Bank Statement Loans For Cannabis Owners

Self-employed buyers often struggle to qualify for a traditional mortgage when they are starting out in their business. Cannabis owners are no exception to this situation! Starting a new business can be costly in the beginning and it often can take several years to start realizing consistent income. Business owners …

Residential Financing for Cannabis Owners is Making a Comeback

Finally some good news for owners and self-employed borrowers in the Cannabis industry! Mortgage financing is about risk and as more and more states are legalizing medical and recreational marijuana use, some banks are deciding that financing may be less of a risk in this industry. Portfolio lenders are again …

The Fed finishes the year with a fourth rate hike – Bankrate

The Federal Reserve’s latest move is bad news for borrowers hit with multiple rate hikes this year. Policymakers ended a two-day meeting Wednesday by voting to raise the central bank’s benchmark interest rate to a range of 2.25 to 2.5 percent. This is the fourth rate hike of 2018 and …

Fannie, Freddie conforming loan limits increase in nearly every part of the U.S. – HousingWire

After not increasing the maximum conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for 10 years, the Federal Housing Finance Agency has now increased the conforming loan limit for the third straight year.   The FHFA announced Tuesday that it is increasing the conforming loan limit for …