I was getting a loan with Georgias Own Credit Union and they told me they cant give loan because the condominium is not Fannie Mae approved.

Or just search in forums for "Delayed Financing", lot of content on the subject.I would draw your attention to a few requirements, from the Fannie Mae requirements, to note :The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property).The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV, CLTV, and HCLTV ratios for the cash-out transaction based on the current appraised value)Basically ensure funds are purchased in cash by you(has been in your account for over 60 days, HELOC works), your name is on the offer, your name is on the refinance loan and that 70-75% of current ARV at time of refi is equal or near to your invested funds on the HUD.Hope that helps! 

Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

The changes are in response to the Federal Housing Finance Agency's policy last month that excludes cash-out refinancing from the single-family loans that Fannie Mae and Freddie Mac will buy in forbearance.  

Are lenders allowing the seller to carry secondary financing on Fannie Mae or Freddie Mac loans question one of the potential buyers is asking me to carry 10% of the sales price which I assume is making up for the 10% reduction he is receiving from his potential lender.

@Drew Sygit @Matt RidenourFannie Mae has a rehab loan called the Homestyle that does allow investors to use it to purchase investment properties and include the rehab $$$ into the loan.

For a conforming Fannie Mae or Freddie Mac loan, you will get very consistent answers.

Decide on your strategy.2) If your credit score needs to be improved in order to get Fannie Mae mortgages for buy & hold rentals, then perhaps direct more of your earnings there for a while, but in general you will have more options of you have some cash to work with for downpayments, rehabs, or just some breathing room.  

Fannie Mae has an exception for occupancy when a son/daughter buys or finances a home for a parents who are unable to work or unable to afford the loan on their own, so you would not have to live there with your parents.You will have to qualify for both their housing payment (the mortgage) as well as your housing payment (even if you currently rent), but the payments should be reduced quite a bit if there's just 100k remaining.  

Fannie Mae is revocable living trust friendly, you can even close on a purchase mortgage in the name of the trust.