Fannie Mae – MS Coast Real Estate Real Estate Information and Investments on the Mississippi Coast 2016-01-04T04:44:55Z http://mscoastrealty.com/feed/atom/ WordPress admin http://damionflynn.com <![CDATA[New Fannie Mae Guidelines to allow up to 10 Financed Properties]]> http://mscoastrealty.com/?p=279 2009-02-09T05:20:35Z 2009-02-09T05:20:35Z

Effective March 1, 2009, which also happens to be my daughter Trinity’s second birthday, Fannie Mae will start, once again, financing up to 10 properties for investors – one heck of a birthday present if you ask me. Maybe I will go buy her an investment property 🙂

Fannie Mae has decided to do this to help with lending recovery and to help put some gas back in the ol’ real estate investment engine. Of course, they are playing it a bit on the safe side and have some pretty hefty stipulations, but none that most serious real estate investors shouldn’t be able to overcome.

Basic Guidelines:

  • Single Family 75% Loan to Value (LTV) with a 70% LTV on Duplexes – Fourplexes
  • 720 Minimum Credit Score
  • No foreclosure/bankruptcy in the past 7 years
  • No delinquencies (over 30 days) in the past 12 months on ANY mortgage loan
  • 6 months reserves for all mortgaged properties
  • a few additional items such as tax info etc…

This information comes as a great surprise. If you are looking to invest on the Mississippi Gulf Coast, it is perfect timing. Get in now and find your properties before other investors get the scoop on this and start taking all the “good stuff”.

A link to the Official Release by Fannie Mae. (HERE)

For more information about real estate investing or to have us help you find investment properties, please Contact Us here on the site – we welcome and appreciate your business!

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