What's the 4 property rule? Currently if a borrower has 4 financed properties, they cannot get another loan. The number used to be 10, now it's 4! I had 3 customers call this week alone that were blocked out of doing something because of this Fannie Mae/Freddie Mac rule.
In this total of 4, lot loans and commercial loans do not count. A borrower may get a local community bank to ignore the rule but if they are Fannie/Freddie it won't work.
This is good news for many investors out there that want to buy using their own names.
ReplyDeletesalt lake mortgage
Nice info ! There i can see some nice update on the topic of mortgage laws
ReplyDeleteMortgage chattanooga
In this total of 4, lot loans and commercial financial financing does not depend. A client may get a area bank to neglect the concept but if they are Fannie/Freddie it won't work.
ReplyDeleteescape the rat race
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