More Changes, Investors will need to move fast!

Freddie Mac announced that starting August 1st it will not allow an investor to finance more than 4 1-4 unit residential properties.  That means that even though Fannie Mae has not given any indication if they will follow suit and make similar guideline cuts, it is very likely as Fannie Mae is often seen as the most conservative of the two entities.  Such a change by Fannie Mae would be make it impossible for an investor with 4 financed properties to obtain financing for the purchase of additional properties through any lender conforming to Fannie/Freddie guidelines. An investor with five financed properties would not be able to refinance regardless of credit, income, assets or desired loan to value. So if you own 4 or more financed properties I suggest you start the process of refinancing and or purchasing anything you have been thinking about now so it can fund before August 1st of 2008.  Check the blog roll for our loan webpage.

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