Posted over 16 years ago

Fannie Mae Lifts 4 Property Rule

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.)