March 23, 2017
- Dan Green writes an article entitled, “FHA Loan With 3.5% Down vs Conventional 97 Loan With 3% Down” which analyzes the benefits and drawbacks to each of the loan types mentioned. Based on the research, the conventional 97 loan seem to be more cost efficient over time for borrowers with higher credit scores; however, if an individual will not keep their initial home for a lifetime, then the FHA loan may be a better deal.
- Although the Trump Administration would like to reform Freddie Mac and Fannie Mae, the agency’s reform is not as pressing according to staffers of the Senate’s Banking Committee. “Dodd-Frank financial” reform and flooding relief are more of a priority for legislative reform.
- Harlem’s Community Board 11 has approved a potential 68 floor tower in the East Harlem community. This approval is contingent upon 50% of the units being affordable, members of the community board 11 having a preference when applying, and creating three new school buildings in the surrounding areas.