I know some banks that lend over 100% but their guidelines are more restrictive.I used to use my car as an asset to secure loans against to purchase properties (acceptable with fannie mae conventional loans since its "secured," funds).Its always good to have some installment debt show up on your credit report to have a good mix of revolving, installment, and RE mortgages. 

I have been searching for my first property day in and day out for about two months now, and with the market being incredibly competitive where I live, I managed to get approved for a perfect flip house by the blood bath we call Fannie Mae!

Since January of last year, I have purchased seven SFH's through a turnkey agency and I hope to max-out my allotment of 10 Fannie Mae mortgages by the end of next year.

This is on fannie mae and freddie macs web page.

Fannie Mae is not a government agency, although its loans are government-backed.

Other lenders offer asset depletion, for those who have substantial net worth but still prefer to take a loan instead of paying cash.There are lenders that offer one or two variations on the regular Fannie Mae/Freddie Mac guidelines in exchange for higher rate and lower LTV.  

Does anyone know of small local mortgage lenders in Philadelphia that DON'T use Fannie Mae / Freddie Mac?

Money together with Molly M.

My other houses were mostly HUD, Fannie Mae, etc.

If you're looking to do a cash out before the 6 months you can do so another week delayed financing  offered by Fannie Mae .