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More than 4 financed properties

By
Mortgage and Lending with First Centennial Mortgage NMLS #194290

Hello to all!  If anyone knows of a lender still doing more than 4 financed properties, can you please drop a line and let me know?  I believe that it's only Freddie Mac that's changed to the 4 financed homes, and I can still get a Fannie approval with the 10 financed home verbage on it.  Yet all of my Fannie lenders have gone to 4 as well.

If anyone knows of an option out there, I'd really appreciate the help on this!

Thanks!

Paul McFadden
Responsive Pest Control - Seattle, WA
Pest Control, Seattle, WA.

Korina: both Flagstar and Amtrust should be able to help you. LTV needs to be below 80% and DU may not like it but you should be able to get an approval, even if it's manual. Flagstar and Amtrust still allow for up to 10 properties until further notice. They're saying until the first of the year. Good luck!

 

Paul

Sep 18, 2008 09:11 AM
Wayne Frazier
Licensed Public Insurance Adjuster - Hunt Valley, MD

 I recently used Flagstar for an Investor Cashout refi. He had 10 properties exactly.

Sep 18, 2008 02:45 PM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

I'm working with Flagstar on current escrow with an investor on his fifth property, however, they are now requiring two appraisals for some weird reason.

Sep 18, 2008 03:49 PM
Lewis Poretz
Apex Home Loans - Annapolis, MD
Business Development Manager

Flagstar and Amtrust

get the two appraisals why the program is still there....... and if anyone hasn't noticed, Flagstar pricing is back!!!   Thank goodness, they fell off the map for a while there....

Sep 18, 2008 11:13 PM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

I agree Lewis.  While Flagstar may be able to do up to 10 loans with Fannie, I suspect that in the very near future, Fannie guidelines will be brought in linew with Freddie guidelines.

Sep 19, 2008 02:41 AM
Korina Hilding Bross
First Centennial Mortgage - Naperville, IL
Mortgage lender for home purchases and refinances

Thank you all for your feedback!  I really appreciate it!

Sep 19, 2008 04:58 AM