Fannie allows 10 again

[Ben Carmona]

https://www.efanniemae.com/sf/guides/ssg/2009annlenltr.jsp

www.eFanniemae.com
Select brokers/correspondants
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Announcement 09-02
March 1 is the kick off date

Properties 5-10

720 fico
75% purchase 1 unit
70% no cash out refi 1 unit
70% purchase or no cash out refi 2-4 units
6 months reserves for all investment properties owned

* side note - properties 1-4 will require 6 months reserves for subject and 2 months for all other investment properties.

(fannie reserve changes not not mandatory till June 1 but you will likely see lender overlays prior to this date)

If you need assistance anywhere in the US with your loans please let me know