Tacoma's #1 Mortgage Expert

Fannie Updates Investor & Second Home Policy 

Highlights

•·         Limited to 10 properties financed in total (this includes primary residence and any other properties).

•·         Commercial properties or those greater than 4 units do not count toward the 10 property rule

•·         Properties titled to and financed by an entity (LLC, etc) do not count toward the 10 property rule

•·         Down payment options vary depending on number of units and number of properties financed

Qualifying

•·     Easier to qualify than what most people realize

•·     Entire down payment must come from borrowers own funds, no gifts allowed

•·     Seller contributions cannot exceed 2% of the sales price

•·     Cash Reserves Required - depending on number of properties owned

•·     Anticipated cash flow can often be used to offset the new payment making it easier to qualify

•·     Borrowers with multiple rental units can use rent to offset payments making it easier to qualify

Benefits

•·     Tax benefits associated with owning rental properties can be significant

•·     Prices are at record lows creating great buying opportunities

•·     Rental property buyer's don't have a home to sell giving them a negotiating advantage

•·     Lower prices = Lower down payment requirements and lower monthly payments

•·     Lower monthly payment = better cash flow

Don't let your investors miss out on an investment buying opportunity by working with a lender who may not be familiar with investment property lending.  Call Kevin Tinsley at www.alltechmortgage.com with any refinancing or investor financing questions.  (253) 472-1500