Limits on number of properties financed - Updated 1-23-2014

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Mortgage and Lending with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035

Limits on number of properties financed - Updated 1-23-2014

There have been many changes in lending the past few years and this post will deal with the maximum number of properties financed.   Here is a quick guide to our rules on this:

Fannie Mae (FNMA) and Freddie Mac (FHLMC) have a limitation of 4 maximum properties that are financed.   We interpret the rule as follows:  If the subject property ( the home you are financing) is a second home or investment home,  you can only have a maximum of 4 financed properties under the standard offering.  

If the home you are financing is your Primary Residence, we do not limit the number of properties that you have financing on.   We follow this same guidance for VA Loans and VA Jumbo Loans - no limit on number of financed properties.  

Summed up:   If you are purchasing or refinancing your primary residence,  We do not limit the number of properties that you carry financing on. 

We also offer Investors a unique feature - we allow you to have up to 10 Financed properties.   This program does require good credit scores and liquid reserves over and above the basic Conventional rules.    

 

We also now offer loans on investment properties for buyers with up to 20 financed properties.  Call for details. 

For VA & FHA loans, there are also limitations on the total number of properties you have financed (4).   Keep in mind that you are limited on how many FHA Loans you can have outstanding at one time, and also how many VA loans you can have outstanding at one time.   If you have had a FHA or VA loan that have been paid off or refinanced into another type of loan, you can reinstate your eligibility for FHA or VA financing again.

VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. VanDyk Mortgage is also a Proud VA Direct Lender.  Go with the Government Loan Pros, go with VanDyk. Visit us at www.vandykfunding.com or call Brian Skaar at 760-752-4480 for help with your FHA loan. We offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, Conforming & Jumbo Loans. We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, Santa Ana, Seattle, Washington, Bellevue, Kirkland, Redmond, Lynnwood, Olympia, Tacoma, Puyallup, Buckley, Auburn, Kent, Federal Way, Seatac, San Francisco, San Jose, Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta, Southern California, Northern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County.

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Tim and Pam Cash 02/08/2009 08:08 AM
Topic:
Mortgage / Finance
Tags:
investment
second home
limit
primary
10
fnma
4
fhlmc
financed
number of properties

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