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Updated over 4 years ago on . Most recent reply

User Stats

69
Posts
30
Votes
Hud Malik
  • New to Real Estate
  • Brooklyn, NY
30
Votes |
69
Posts

Fannie Mae Guidelines

Hud Malik
  • New to Real Estate
  • Brooklyn, NY
Posted

I'm in the process of trying to find the best lender that would help me get pre-approved for my first investment property. I spoke to a lender today and she mentioned that the only way I can purchase a rental property is if I'm a homeowner prior to the purchase. she also mentioned that this is currently one of the  guideline that Fannie Mae goes by because of COVID and the landlord /tenant laws. Can anyone please clarify? Is this true? I live in NYC by the way, and I would like to house-hack in Trenton, New Jersey.

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