It is not often that new product offerings surprise me. However, I was speaking with my good friend Liz GroganÂ at SEFCU today and she told me about a programÂ that I knew I had to share with you! SEFCU is offering a savings vehicle called Mortgage match to help save for a down payment on a house. The amazing thing about this product isÂ they will give you $4 for every $1 you save up to $7,500!!!! Simply putÂ , this is Â a risk free 400% return on your money!Â This is a deal that can't be beat!Â Of course there are some income limitations and you do have to sit through a class or two. However, If you are saving for a down payment give me a call or email me and I will tell you how to get in contact with Liz!
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The evaporation of 100+%Â investor Loan to value mortgages and stated income loans was hard enough on local investors. Now Fannie and Freddie, as I understand it, haveÂ reduced the number of homes an investor can finance from 10 down to 4. This isÂ Â major problem for any investor that wants to purchase multiple properties in an area toÂ actual generate a decent passive income. It seems the lending pendulum isÂ swinging the other way. Mortgage money that was far too easy to obtain 2 years ago is now becoming more difficult particularly for investors. Investors buying multiple units now may be limited to a solid banking relationship with a local portfolio lender just like the oldÂ days. Bottom line, investors buying multiple properties are going to have a harder time but the deals can get done when put in the hands of a capable professional.Â http://www.clancyrealestate.com