New Freddie Loan PERFECT for ADUs?

Freddie Mac's new second position mortgage will be perfect for building Accessory Dwelling Units (ADUs) as long as they don't mess up key parameters like max loan value.
**UPDATE 6/26/2024**
The loan product has received conditional approval and the FHFA has acknowledged how much feedback it received about having a higher maximum loan value amount. However, due to statutory constraints, they have set a relatively low max on the loan
Press release: www.fhfa.gov/n...
FHFA Director Sandra Thompson's announcement: www.fhfa.gov/n...
**END UPDATE 6/26/2024**
**UPDATE 5/25/2024**
The comment period for this product has closed. Subscribe to email updates and I'll let you know when the loan gets released: www.how-to-adu...
**END UPDATE 5/25/2024**
Look up if Freddie owns your primary mortgage: myhome.freddie...
You can read the announcement here: www.fhfa.gov/M...
You can read the loan details here: www.fhfa.gov/S...
Special thanks to our sponsors Renofi (who offer a second position loan that is less restricted than this Freddie product, in many ways). Check them out here: loan.renofi.co...
Special thanks to Julee Felsman for help putting this video together. You can watch her channel here: • Mortgage Interest Rate...
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