Is Lending Drying Up for SFHs?

[Alfred Litton]

Hello All! Just wondering if everyone else is running into what I've been running into. Called a couple of mortgage brokers I've used before (big ones) to see about a cash-out refi on a property so that I could extract the equity and purchase an additional SFH. Basically, three firms told me the same thing: They simply have no way of doing investment loans right now because no one wants them. "Can't get a rate" on purchases or refinances at all, which they attribute to institutions not being interested in owning those loans. Something about Fannie and Freddie limiting the number of investment loans for institutions?

Maybe I'm not understanding them correctly.

Anybody else seeing this? Essentially, if I understand it properly, the loans "can't catch a bid." That's weird and . . . a little unnerving.