Supplemental Loan Program?

[Matthew Dunn]

Dear BP, I've gone through a number of searches here on the forum, but couldn't find this answer.

I'm really interested in learning more about if I can use a Supplemental Loan program through Fannie Mae to cash out on our existing value add quadplex. I heard about this method after listening to Rod Khleif's podcast episode # 209. But two lenders I've spoken with locally (including my existing lender) have little to no knowledge and are just trying to sell me conventional refinance. My initial thought was this was only available to commercial 5 units or higher, but my lender did tell me this is available to residential. So I'm confused. Any tips on where to go to get information would be appreciated.

Thanks!