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Monthly Luncheon – September 2019
September 5 @ 12:00 pm - 1:00 pm$30.00
Fannie Mae and Freddie Mac have lowered the eligible income limit for HomeReady and Home Possible to 80% of the area median income. In the Charlotte MSA that number is has decreased from $75,800 to $60,640. That is a substantial decrease in income and impacts the loan programs we look to for first time homebuyers.
In sharp contrast, NC Housing has done just the opposite and raised their income limit to $89,500 and the purchase price to $275,000!
Bill Hobbs with the North Carolina Housing Finance Agency will be with us to discuss the changes and how we can help more first time homebuyers and move up buyers getting into homes.