Tuesday, November 15, 2011

Financing for 5-10 Properties

If someone is buying a second home or an investment property, Fannie Mae allows financing for up to 10 properties to the same borrower, and so do we!

Here are the restrictions:

  • Minimum credit score is 720
  • For second homes and 1-unit investment property purchase transactions, the down payment is 25%
  • For second home and 1-unit investment property refinance transactions, the maximum loan-to-value (LTV) ratio is 70%
  • For 2-4 unit investment property purchase transactions, the down payment is 30%
  • For 2-4 unit investment property refinance transactions, the maximum LTV is 70% with no cash-out, and 65% with cash-out
  • And remember, if the subject property is a primary residence, there is no limit to the number of financed properties you may have.
Getting a loan approved is easy - if you know what to do. The Mortgage Experts know what to do!!!

Make sure you check out our web site:
www.mtgsupportservices.com

By the way, don't forget to refinance your current mortgage. Rates are very, very low right now. Don't miss out! Call us today to get the details for your particular situation.

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