Fannie Mae Lifts 4 Property Rule
Investors Can Now Finance Up to 10 Investment Properties Starting March 1, 2009! Lending giant Fannie Mae announced on Friday, February 6th 2009 they’re lifting the 4 property rule limit as of March 1, 2009. The Fannie Mae Policy Change will allow qualified investors to finance more than 4 properties. This is a huge policy change that will make a massive positive changes in the real estate market across the country. Under the previous guideline investors could only finance 4 properties, which meant a seasoned investor with 5 properties, great credit and documented income could not finance an investment property. Well today that has changed. Here are the requirements for investors under this new guideline: Although the LTV is only 70% this is still a huge stride in the right direction allowing investors to capitalize on this market.Property-flipping rule suspended.The White House temporarily suspends a rule that imposes a 90-day waiting period before foreclosed homes can be sold to receive government loans.(this doesn’t really apply to my investors who are buying for cash-flow purposes, however, it does help those investors who are selling to homeowners.)
Comments (5)
I know it's an old thread, but i am looking for a bank that will do 5-10 properties. How can I find a bank that will service Michigan for 5-10 properties?
George P., about 13 years ago
i just talked to someone at Wells Fargo. She has not heard this yet either. Anyone know for sure or a link to a gov't site that says it? Thanks
Brandon Turner, about 15 years ago
Every bank i've talked to says the 4 property rule has not been lifted yet.
Tabe, about 15 years ago
Yes, as of 3/1/2009.
Ty H., over 15 years ago
Has this rule gone into affect yet?
geoff league, over 15 years ago