Fannie Mae allows Investors to Buy Up to 10 Houses Now? Wow!
maria gudelis | February 9, 2009The four loan limit has been removed according to the Fannie Mae website, so that a high quality credit borrower can have multiple mortgages over the four limit now:
From the Fannie Mae announcement:
“Fannie Mae is updating the policy that pertains to multiple mortgages to the same borrower.
Fannie Mae’s current policy limits the number of one- to four-unit financed properties in which theborrower may have an individual or joint ownership interest to
four financed properties when the
mortgage being delivered to Fannie Mae is secured by an investment property or second home.
The limitation on the number of mortgages currently being financed applies to the total number
of properties financed, not just the number of mortgages sold to Fannie Mae. Fannie Mae is
modifying this policy to allow investor and second home borrowers to own five to ten financed
properties if they meet certain eligibility and underwriting and delivery requirements as outlined
in this Announcement.”
To your success, Maria Gudelis
