Is there a difference between refinancing a market-rate home versus an income-restricted home?
Actually, they are going to be pretty similar. AnchorBank will be your option for a fixed-rate mortgage of 15 to 30 years (because they are a Fannie Mae-certified CLT lender). In terms of calculating the value of your home for lending purposes, the lender will look at the allowable resale price of your home. • For income-restricted homeowners, the resale price is set by deed restriction (what you paid plus 25% of the increase in market value). • For market-rate homeowners, the resale price will be appraised market value.
