BRRRR Roadblock After 6 Mortgaged Properties…

[Ashley Graham]

Has anyone with more than 6 but less than 10 mortgaged properties successfully closed a conventional cash-out refinance on an investment property since the recent update to the Fannie Rules?

If so, who was your lender and what were your rates/terms?

Property Value $200K, Current Conventional Loan $83K

With a 75% LTV I should be able to take out $67K to repeat.

Recent Update to the Fannie Rules: eligibility restrictions for DU loan casefiles and manually underwritten loans related to LTV, CLTV, and HCLTV and cash-out refinances have been removed, and are now aligned with standard eligibility.

https://www.fanniemae.com/content/announcement/sel1603.pdf