Fannie Mae and Private Investor Question.....

[Derek T.]

Sorry this is the first time I am dealing with a Fannie Mae property and I want to get BP's input before I ask the listing agent.......

I have a property closing at the end of the month and I just heard that my Fannie Mae property and short sale (both of which have 30 closings on them) have been accepted/approved. All offers were cash offers and I submitted my bank statement with it for the offers. However now I will be funding all deals with private investor capital that will be secured with a note.

My state has a clause that allows you to secure financing however you want as long as it doesn't affect the closing/purchase price but my exact question is would this jeopardize my EMD deposit with the Fannie Mae property if I use OPM's ($15,000 EMD) as opposed to my cash?