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Welcome to the AAOA Forum, where we discuss the the topics our members want to hear and want to talk about. We like to take an active roll in the online community to help our members learn and help educate landlords new and old. We encourage you to participate and join in our discussions. Thanks.
Good News for Investors: Fannie Mae Increases Multi-Property Limits
Fannie Mae has changed its 4-property limit for investors and will now allow those who qualify to finance up to 10 properties. The lending requirements are stringent, and inexperienced investors need not apply.
Limits include 25% down, high credit scores with no bankrupcty, foreclosure or delinquencies, and consent for Fannie Mae to view tax records held by the IRS.
Investors will also need to provide two years documented rent history on current investments, and ante up some reserves.
The previous restrictions have hampered interested home buyers, which contributed to falling prices. Investors across the country are cheering this new opportunity to grab up some deals and get back in the game.
Fannie Mae says its a win-win:
“Fannie Mae is committed to providing financing opportunities for high-credit quality, bona-fide investors. Experienced investors play a key role in the housing recovery and Fannie Mae’s continued support for investor borrowers is consistent with its mission to provide stability, liquidity, and affordability to the nation’s housing system.”
To learn more, visit Fannie Mae Announcement 09-02.
See other articles on Real Estate Financing.
American Apartment Owners Association offers discounts on products and services for landlords related to your real estate investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.
To subscribe to our blog, click here.
American Apartment Owners Association offers discounts on products and services for landlords related to your real estate investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.
To subscribe to our blog, click here.
Filed under: AAOA Forum, Financing
[...] information of these limits, see FHA Letter to Mortgagees. See our feature, Fannie Mae Unshackes Investors. American Apartment Owners Association offers discounts on products and services for landlords [...]
Keep in mind that it is easier to manage one 10 unit building than it is to manage 5 duplexes, and investors in commercial multi-family (6 units +) don’t have to worry about the FHA limits.
MasterPlan Capital LLC – NEW: Small Balance Multi-Family (apartment) Commercial Mortgage Loan – Up-to 75% LTV – Loans From $1MM-$5MM – Currently 5.85%-7.85% (subject to change) – EZ, Online Application
[...] good folks over at the American Apartment Owners Association blog are happy that the FHA has eased restrictions on the number of loans an investor can [...]