Fannie Mae now allowing up to 10 Financed Properties

·        Recent guideline changes have increased the number of total properties financed from 4 properties to 10 properties for qualified borrowers.

·        Borrowers must not have any history of bankruptcy or foreclosure within the last 7 years.

·        Borrowers cannot have any delinquencies (30 days or greater) within the past 12 months on any mortgages.

·        Rental income from investment properties must be supported by 2 years federal tax returns.

·        Borrowers must complete and sign IRS form 4506 or 4506T.

·        Borrowers must have reserves for the subject property and other properties currently owned.

Why limit this to 10?  You gotta love Fannie and Freddy.  Still great news!

You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.