Fannie Mae changes-
- 4 financed properties allowed.
- A refinance must generate from a person who was originally on title and note from day 1 or you have to wait 6 months to refinance.
- No cash out for six months.
- LTVs to 80% have an increased pricing hit of 1.00% to 1.25% which makes 80% obsolete.
- LTVs need to be at 70% and 75% MAX to be doable.
- No cash out refinances are still eligible for NO SEASONING. Payoff your renovation loans.
- Free and Clear homes will have 6 months seasoning. Always place a lien on it from day one even if you paid cash. Need to be able to payoff a lien!!!!!
Contact me with financing questions etc, I will be able to give you whatever informaiton you need, or lead you in the right direction