Below Grade StandardsAs you can see, both ANSI and Fannie Mae are consistent in their requirement that GLA is entirely above grade.

But starting November 18, 2023, Fannie Mae is rolling out a game-changing 5% down payment option for owner-occupied 2-, 3-, and 4-unit properties.

We just found out that the these condos are ineligible for mortgages per Fannie Mae guidelines.  

Definition of limited cash out refinance by Fannie Mae: Client is not required to take any cash out but the maximum they can take out is the lessor of 1% of the loan amount or $2,000.Accessory Dwelling Units: Fannie Mae does not currently allow for the use of ADU’s on 2-4 units.

Hi Molly,I’ll see if I can find a map but I know the area well!

I have seven Fannie Mae mortgages, so my ability to fund tree and four plexes is limited. 

But is this the best strategy while I‘m still yet to cap out my Fannie Mae loan count?

My wife is the only one on that mortgage which is owned by Fannie Mae. 

Here is the link to Fannie Mae Guidelines below.  

There is no 'we' yet.If you end up splitting, you'll have no legal recourse to retrieve anything you paid.Are all the loans federal Sallie Mae?