Updated almost 13 years ago on . Most recent reply
fourplex mortgage limitation
looking at a 4 plex property and really liked it.
when i contacted my mortgage guy, he said that under the fanie mae guidelines i can not qualify for something like that.
he said "you have more than 4 under mortgage and they only allow single family or duplex, no fourplex properties".
i asked what's the other option besides paying cash, and he said.. "that's pretty much it, have to pay cash because i can't refinance it if your get it land contract".
what are my options?
Most Popular Reply
I'd suggest talk to another lender. I believe FNMA does allow up to 10 mortgages (1-4 units).
Here's a mortgage broker that does investment loans if you want a quick answer. I'm not affiliated with them or suggest that you use them. But they do investment loans, so you can call and ask:
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