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Fannie Mae's Home Purchase Sentiment Index reached its lowest level since November 2011.
JLL Capital Markets arranged financing for the acquisition, placing a $28 million loan with Fannie Mae.
“There’s now less incentive to get a larger mortgage because you can’t deduct it," says Ryan Raveis. "For younger generations particularly, who are typically loaded down with student debt and are living at home, home ownership of their own – which has always been seen as a way of building equity – is getting harder to come by.”
The Connecticut Housing Finance Authority's Freddie Mac HFA Advantage loan offers lower mortgage insurance costs.