We won't qualify under Fannie Mae guidelines.

They are not created with the intent of selling them off to government-sponsored entities like Fannie Mae, Freddie Mac, or FHA.

They're almost entirely utilized for refinances because of this closing time frame but the terms are unbeatable. 85% LTV - 35 year term fully amortized - fixed rate in the mid 4%'s.Fannie Mae multifamily loans (5+ units) start at $1mm and can go 5, 10, 15, 20, 25, and 30 years with a 30 year amortization.

:-/I just had a formal inspection done today on what’s supposed to be my first rehab, a Fannie Mae REO.Lo & behold, the inspector found evidence of a buried oil tank underneath the deck (the only indication was the short pipe sticking out of the ground).Mind you, there was no mention of one in the listing (which stated gas heat and “n/a” next to “oil tank”), nor anything on the disclosure—so I thought everything was cool.I went back and told the LA that I wouldn’t be closing unless the bank took care of testing, removal & any remediation.

I agree with Sandi Hague .

Just get an umbrella insurance policy of $1 million to start with.Depending on how you plan to buy your properties, you may not be able to use an LLC initially anyhow (e.g. we refinance our rentals into 30-year Fannie Mae loans, and we cannot do so with properties held in an LLC - has to be in our private names).Andy

Hi what is the significance of a Fannie Mae HomePath property and what additional considerations should I make when considering buying one?

She has a student loan that was charged off by Sallie Mae and another one which has been late 6 times.  

However in a conversation with a mortgage lender who claims they know the process, they mentioned that Fannie Mae will still look to at my bank statement to see where the monies came from; if it comes as a gift (as it will look like in my bank statements) then I would first have to pay income taxes on that amount and then look to purchase the home.Does anybody have any experience purchasing a property through HomePath using private money that was raised?  

What regulations apply to Fannie Mae Homepath properties when buying with cash?