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Updated over 4 years ago,
How hard is it to get a Fannie experience waiver?
My husband and I have owned a number of duplexes for 13+ years. Now we're ready to purchase our first 5+ unit property and will need a commercial loan. But I've learned our prior multi-family experience doesn't satisfy Fannie's experience requirements (which will limit us to properties within 100 miles of our home). But I've read that Fannie sometimes permits a waiver of this experience requirement. Any thoughts? How difficult is it to get one of these waivers? Tips?