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Private Lending & Conventional Mortgage Advice
HomeForumsPrivate Lending & Conventional Mortgage AdviceFannie Eliminates 80/10/10?
Ben Duq's profile image
Ben Duq's profile image
Ben Duq
  • Accountant
  • from Honolulu, Hawaii
  • Member since Dec 15, 2008
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Ben Duq's profile image
Ben Duq's profile image
Ben Duq
  • Accountant
  • from Honolulu, Hawaii
  • Member since Dec 15, 2008
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Ben Duq
  • Accountant
  • Honolulu, HI
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Private Lending & Conventional Mortgage Advice

Fannie Eliminates 80/10/10?

Ben Duq
  • Accountant
  • Honolulu, HI
Posted Jun 4 2010, 08:17

My mortgage officer told me the other day that I would no longer be able to do a 80/10/10 loan as the max loan that Fannie would allow is 80% including a HELOC. So now in order to complete my transaction I have to come-up with an additional 10% out of pocket.

Has anyone heard anything about this? I tried to do some research online about this and couldn't find anything related to these new loan requirements.

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