Trump's Big Change To Loan Eligibility 👇

I wanted to update you on a recent change regarding FHA loans. The Trump administration has decided to eliminate eligibility for FHA-insured loans for non-permanent residents, such as individuals on work visas. This policy shift means that buyers who are not U.S. citizens or lawful permanent residents will no longer qualify for FHA financing

I personally believe that the elimination of FHA loan eligibility for non-permanent residents could reduce demand in certain price points definitely in Harrisonburg and Charlottesville as both cities are extremely diverse. This could lead to a more neutral market at the lower price points meaning more inventory and less bidding wars resulting in a slower rise in value for townhomes / starter homes and possibly even no increase at all.

🏡 Buyer Activity Over The Last 90 Days By Price Point

With 2,600 Buyers currently shopping in starter home territory and with the change effective immediately following the Trump administration's announcement, There's no telling how many of these buyers will no longer be able to acquire the financing to purchase a home.

I'll be keeping a close eye on the changes in demand following this announcement!

If you have any questions or need assistance exploring other financing options, feel free to reach out. I'm here to help!