Fannie May loans how to get

[Buddie Slone]

I have three commercial loans totaling 600,000. I would like to get one Fannie May loan with locked in interest rates. Where can I get one?

[John Warren]

@Buddie Slone I believe that the loan balance will have to be larger to get a Fannie Mae loan. The old cut off used to be 1,000,000 or more on the loan balance, but I recently saw a smaller loan that was just over 750k. I am in the process of doing a cash out refinance on a property I own in Berwyn with Fannie Mae, and they consider our 1.5 million dollar loan to be small. 

For your situation it might make more sense to find a local bank to consolidate the loans with. There are banks locally here in Chicago that will do a 15 year amortization/15 year term loan which might be something to consider.