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Blogs » Real Estate Investor » Washington » Camano Island » Wholesaling Stuff » Fannie Mae Lifts 4 Property Rule
Fannie Mae Lifts 4 Property Rule
Thursday, February 12
Investors Can Now Finance Up to 10 Investment Properties Starting March 1, 2009! Lending giant Fannie Mae announced on Friday, February 6th 2009 they’re lifting the 4 property rule limit as of March 1, 2009. The Fannie Mae Policy Change will allow qualified investors to finance more than 4 properties. This is a huge policy change that will make a massive positive changes in the real estate market across the country. Under the previous guideline investors could only finance 4 properties, which meant a seasoned investor with 5 properties, great credit and documented income could not finance an investment property. Well today that has changed. Here are the requirements for investors under this new guideline: Although the LTV is only 70% this is still a huge stride in the right direction allowing investors to capitalize on this market.
Property-flipping rule suspended.The White House temporarily suspends a rule that imposes a 90-day waiting period before foreclosed homes can be sold to receive government loans.(this doesn’t really apply to my investors who are buying for cash-flow purposes, however, it does help those investors who are selling to homeowners.)
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Ty Hollander
TYMO Properties
Real Estate Investor
Camano Island, Washington
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"I know it's an old thread, but i am looking for a bank th..."
from George P., on Fannie Mae Lifts 4 Property Rule - ·
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"i just talked to someone at Wells Fargo. She has not hea..."
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"Every bank i've talked to says the 4 property rule has no..."
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geoff league Reply
about 3 years ago
Has this rule gone into affect yet?
Ty Hollander Reply
about 3 years ago
Yes, as of 3/1/2009.
Tabe Reply
almost 3 years ago
Every bank i've talked to says the 4 property rule has not been lifted yet.
Brandon Turner Reply
almost 3 years ago
i just talked to someone at Wells Fargo. She has not heard this yet either. Anyone know for sure or a link to a gov't site that says it? Thanks
George P. Reply
11 months ago
I know it's an old thread, but i am looking for a bank that will do 5-10 properties. How can I find a bank that will service Michigan for 5-10 properties?