If an LLC then skip the large banks that only do Fannie Mae and Freddie Mac loans and go to a smaller local bank that does portfolio lending.

I know Fannie Mae has that differedinteres loan any other that you may know about or any suggestions you can give.

So, they are not subject to the same Fannie Mae underwriting guidelines.  

Hello BP, My offer was accepted for a Fannie Mae foreclosure in Baltimore,MD.

If you are applying for conventional financing for a home for you to live in (fannie mae, Freddie mac etc.) 

@Kerry Baird  @Stephanie Potter  Fannie Mae just simplified their multiple financed properties guidelines to allow cash out on 5-10 properties.  

Commercial loans tend to be 20-25 year term loans with a 5 year balloon (meaning your rate/payment structure must be redone every 5 years).Looking at the Fannie Mae eligibility matrix, you should be able to go as low as 15% for a single family investment property and as low as 25% for a multifamily.  

Fannie Mae's guidelines are about a thousand pages long.

There is a Fannie Mae Product call Homestyle.  

Looking at the Fannie Mae website, I found the following requirements:Cash-out refinance transactions must meet the following requirements: The transaction must be used to pay off existing mortgages by obtaining a new first mortgage secured by the same property or be a new mortgage on a property that does not have a mortgage lien against it.Properties listed for sale in the six months preceding the disbursement date of the new mortgage loan are limited to 70% LTV, CLTV, and HCLTV ratios (or less if mandated by the specific product, occupancy, or property type – for example, 65% for manufactured homes).Note: Properties that were listed for sale must have been taken off the market on or before the disbursement date of the new mortgage loan.The property must have been purchased (or acquired) by the borrower at least six months prior to the disbursement date of the new mortgage loan except for the following: There is no waiting period if the lender documents that the borrower acquired the property through an inheritance or was legally awarded the property (divorce, separation, or dissolution of a domestic partnership).