I'm trying to owner occupy with FHA/Fannie Mae using minimum DPs.

That can happen if you buy a home that needs a little TLC or renovations and after the upgrade the new ARV might put you at that 85% LTV or lower, possibly even be able to take cash out.As a first time home owner you can use FHA 3.5% down or Fannie Mae 3% down (single family).

Purchase price: $86,000 Sale price: $120,000 The wholesale deal for 4390 Annie Mae Cv, Millington, TN, greatly impacted all parties involved.

The good news is that Fannie Mae and Freddie Mac recently relaxed underwriting guidelines to allow for it.i recommend checking out Freddie Mac's Home Possible and Fannie Mae's HomeReady program.Outside of that, working with a mortgage broker can also help you shop around for lenders that allow for boarder income.Good luck!

Or are they allowed to do this under Fannie Mae?

Here is what Fannie Mae says about this issue:  https://selling-guide.fanniema...

Note too that in Wake County, unlike decades past, there is no meaningful "foreclosure discount" (defined as the fact that winning courthouse bid prices were generally (historically) much lower due to the forced sale feature of NC statutes and Deed of Trust Power of Sale clauses) and this is confirmed by a recent Fannie Mae study. 

Hey BiggerPockets family,I was just approved for an owner occupant, Fannie Mae, 5% down with a purchase price of $1.3 million for a 4plex in the Phoenix Metro of ArizonaMy middle FICO credit score is 759My current DTI debt to income ratio is 30%I have enough down payment, closing costs for the subject property, and enough liquid reserves for all 10 of my apartment buildings totaling 45 units in PHX Metro AZ my mortgage lender quoted me with a rate at 8.125% with me paying 0.156 points totaling $1,920My question is,does this 8.125% interest rate sound reasonable for an owner-occupied fourplex 5% down Fannie Mae conventional loan as of March 27th, 2024, at 1700 hours?

(and yes, DSCR are personally guaranteed) The number of financed properties calculation includes:the number of one- to four-unit residential properties where the borrower is personally obligated on the mortgage(s), even if the monthly housing expense is excluded from the borrower’s DTI in accordance with B3-6-05, Monthly Debt Obligationsthe total number of properties financed (not the number of mortgages on the property nor the number of mortgages sold to Fannie Mae), with multiple unit properties (such as a two-unit) counting as one property;the borrower’s principal residence if it is financed; andthe cumulative total for all borrowers (though jointly financed properties are only counted once).

If you are using Fannie Mae as your first lien...then you need to ask that lender.