Strategy around ten property limit for Fannie ?

Question

It's great that non qm commercial lenders are out there but I am the biggest cheapskate of all time. I still buy from the value menu at burgerking and have a paid off car with 200000 miles. So I don't wanna pay that extra one percent or two with often ARM terms if I can avoid it. Especially because I'm in california and you're looking at minimum 200,000-300,000 in most places. First strategy that comes to mind is to have a partner get involved that you trust completely, eg brother or parents. Transfer down payment money to them for purchase. 90 days later so the banks don't see the transfer in their statements, have your person buy said property. Then have said person put the property onto a land trust with you as the trustee and then into an llc with you as the member. Offer said person $50/m for the risk. On a $230,000 loan you would get $150 in savings and bolstered security with the non ARM terms. Subtract the fee from your person and that's possibly worth it. Especially because I have family that qualifies for military loans with reduced downs.

Wayne Brooks · Answer

That might work for you, other than some possible “straw man” mtg fraud issues, but it would screw them when they want another loan, DTI wise.

Philip Johnson · Answer

Good point I guess it would have to be presented differently then. Something like keeping the property in their name

(Edit)  if keeping property in their name i could charge finding and management fees to said person. But in the end they likely just want to keep the property in their name by then.

Any other way around this ?