As many of you already know, the VA (Veterans’ Administration) sells foreclosed homes and offers investors (who do not need to be veterans), great VA loans called “VA-Vendee Loans”.
As of now, the terms of these investor loans are: 5%-down, 4.5% fixed-rate 30-years.
These are incredibly attractive loans for an investor, especially in the loan-stingy environment [...]
Is a 25-30% Down Payment Acceptable for New Fannie Mae Backed Loans for Investors with over 4 mortgages?
Many investors are certainly rejoicing in the fact that they can now go in and purchase some ludicrously-priced houses and get good Fannie Mae-backed loans.
However for investors with between 5 and 10 mortgages, the down-payment requirement is 25-30%. Is that acceptable?
We have all been spoiled rotten when credit was flowing like wine and even investors [...]
This is hot off the presses: directly from Fannie Mae’s website.
Apparently Fannie Mae has reconsidered the loan limit for investors. I wonder if everyone’s efforts made a difference.
Fannie Mae will allow investors to hold 5-10 mortgages and still get Fannie Mae backed loans. This apparently will start as of 3/1/2009 and will be announced on [...]