Removal of FHA Self Sufficiency Test?
I read an article recently about how Fannie Mae was increasing the LTV for 2-4 multifamily to 95% and the self-sufficiency rule would be eliminated. Is this true? I didn't see anything about this in the updated selling guide from Fannie Mae, and I can't find any other news sources reporting this info.
https://themortgagereports.com/107690/fannie-mae-introduces-...
Most Popular Reply
It is true that Fannie Mae is increasing LTV to 95% for owner occupied 2-4 unit properties, this goes into effect mid-November. Note that it's for conventional loans, not FHA, so FHA still has the self-sufficiency test for 3-4 units. There hasn't been any info on whether or not it'll apply to this new change with conventional.
- Brittany Minocchi
- [email protected]
- 330-354-6590
Brittany Minocchi - Barrett Financial Group, LLC
22 Reviews
5.0 stars