Fannie Mae – Multi Property Loan Program

Most conventional lenders today stop at for loans per borrower. Fannie Mae is the only outlet that allows lenders to take their borrowers up to 10 where is Freddie Mac only stops at four. Because of that most of your bigger banks will stop at 4, where your traditional correspondent lenders will utilize the Fannie Mae Multi-Property program. Fannie Mae’s does require stricter guidelines for these borrowers and many of the lenders who are originating these loans will also put their underwriting overlays in addition to Fannie Mae’s guidelines.

Below the program highlights:

• 25% down on Single Family for Second Homes and Investment Properties
• 30% Down on Duplexes, Tri-Plex and 4-Plex Investment Properties – Warrantable Condos and PUD Eligible
• 720 Credit Scores Required
• All US Citizens, Permanent Resident Aliens, and Non-Permanent Resident Aliens (Social Security Number required, no TIN)
• Maximum Loan amounts:
• 1 Unit – $417,000
• 2 Units – $553,850
• 3 Units – $645,300
• 4 Units – $801,950
• 30 & 15 Year Fixed Rates
• 5 Year ARM and 10 Year ARM Maximum LTV’s will be 65%
• Available No Balloon Payment or Pre-Payment Penalties
• In-House Processing, Underwriting, Closing & Funding
• Underwritten In Accordance To Fannie Mae Guidelines Only

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