15% down Fannie Mae investor loans now available

Credit restrictions have continued to ease up and the 20% down minimum down payment for Fannie Mae investor loans has now been changed to where you can buy an Oklahoma City investment property for 15% down with mortgage insurance added. The good news is that you can go up to the 10 mortgage Fannie Mae limit if you choose and not have to do the 25% down minimum after 4 mortgages total. As of this video this is only for single family homes so duplexes to quadriplexes still need 25% down regardless of the number of mortgages you have. I recently dealt with a California based investor who did this on purchasing 5 homes. The strategy we put together is to maximize his cash he had for Oklahoma City rental homes so that vacancy issues would be minimized. The other key was we still had good positive cash flow and the goal was to take the cash flow and apply to one home at a time. This way we could get to the 80% loan to value to remove the mortgage insurance of $65 a m month which meant more cash flow to go to the second home to get to 80% and do the same until finished. A 15% down strategy can work well in a conservative market more geared to positive cash flow than appreciation with that of course still a factor. It also helps to be buying in a low vacancy city and even to target the most successful areas so that in reality we c an deliver what is on paper. This does not work for everyone but it is something i am seeing investors do more of in my market so maybe it can work for you also. For more information about 15% down investor loans in the Oklahoma City real estate market, please contact me at joe@joepryor.com.