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Updated about 2 years ago on . Most recent reply
How many Fannie Mae investmtent property loans excluding Primary
My credit union says I can have only 10 financed properties including the primary residence. Is that correct?
I thought it can be 10 + primary residence mortgage.
Most Popular Reply
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For Conventional only...
It can only be 10+ the primary if your primary is the subject property for the 11th transaction.
So you can't own a primary and 9 REOs, then purchase another REO as #11.
You can own 10 REOs, then buy a primary as #11.
Check out Freddie Mac. Depending on what kind of other REO you have, there are some exceptions that do not count towards the 10. Chapter 5306.
Cheers!
- Nick Belsky
- [email protected]
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Belsky Mortgage, LLC
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