As the real estate and related industries change with continuing legislation, we are continually experiencing a tightening up of the lending institutions. Fannie Mae has just issued their latest guidelines which will be implimented the week of December 12th.
- A buyer will now be required to have a minimum of a 620 credit score, with few exceptions.
- Relating to private mortgage insurance, homeowners whose LTV exceeds 80% of the value of their property will be asked to choose between a higher MIP premium month to month or pay a one time fee at the time of recording.
- Ratios exceeding 45% will no longer be approved unless there is are very strong assets and credit shown by the borrower. In no circumstances can expense ratios exceed 50%.
In the final analysis, if a buyer or homeowner is considering a new mortgage, it would be to their advantage to consider executing their loan prior to these new guidelines.
![5A88ABE571D2A92D6D69C15AF57A6823[1] 5A88ABE571D2A92D6D69C15AF57A6823[1]](http://landpark-sac.ca.housingstorm.com/files/2009/10/5A88ABE571D2A92D6D69C15AF57A682313.png)
DRE # 01188158
www.PaulaSwayne.com
About the Author
Paula is a native Sacramentan, born and raised in South Land Park. She attended Sutterville Elementary School, Sam Brannan Middle School, C.K. McClatchy High School and received her Bachelor of Science at Oregon State University in 1974. Paula worked as a buyer of childrens wear at Lawrences, a local Land Park department store, for nine years and as the manager of a family owned Sacramento ski rack business for another 9 years. She and her husband, Richard moved into Land Park in 1979 and loved raising their three children there. Their children now own their own homes in the Land Park area.
In 1995 Paula earned both her real estate license and broker's license. She is privileged to be a member of the Sacramento Association of Realtors Master's Club, selling more than 3 million dollars worth of property each year since 1996. Paula enjoys being the Chairperson of the Grievance Committee for the Sacramento Association of Realtors and Broker of record for Windermere Dunnigan Realtors in Land Park.
Paula is fortunate to live and work in the area in which she specializes - Land Park. She also specializes in the older neighborhoods of East Sacramento and Curtis Park. Paula is drawn to the character and the unique architecture of the homes in these tree-canopied neighborhoods featuring beautiful parks. Growing up in South Land Park, she also has experience in selling homes in this wonderful established neighborhood.
When Paula is not working
with clients, she enjoys walking her two unruly English Springer Spaniels
in William Land Park, working in her yard or the latest home project,
creating bronze sculptures or playing with her
grandchild.
Paula Swayne
4215 Freeport Blvd.
Sacramento, California 95822
Direct: (916) 454-5753
Mobile: (916) 425-9715



