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#2223842 - 10/16/19 08:28 PM Second Homes Section 35 HPML?
parker1962 Offline
Junior Member
Joined: Jul 2019
Posts: 32
From my understanding the Section 35 HPML rule just covers conventional and government loans secured by a primary residence. So second homes and investment properties are not covered. However, are there any possible exceptions to this rule?

Or is there a way to remedy a situation where APR is over the limit on a second home/ways to lower APR?

Thank you in advance.

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Lending Compliance
#2223845 - 10/16/19 08:30 PM Re: Second Homes Section 35 HPML? parker1962
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
Principal dwellings only.
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#2223846 - 10/16/19 08:35 PM Re: Second Homes Section 35 HPML? rlcarey
parker1962 Offline
Junior Member
Joined: Jul 2019
Posts: 32
Thank you!

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#2224079 - 10/21/19 07:52 PM Re: Second Homes Section 35 HPML? parker1962
parker1962 Offline
Junior Member
Joined: Jul 2019
Posts: 32
Follow up question just for clarity- are second homes subject to HPML? Meaning, the APR on a second home cannot be higher than APOR + 1.5 limit?

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