The guidelines for Fannie Mae allow each individual to have up to 10 financed mortgage loans. Not every lender will lend past 4 financed properties, but we will! Here are the guidelines for getting a mortgage to buy or refinance a property if you have more than 4 mortgages already:
- 25% down payment or 25% equity in the property
- 6 months of PITI payments in cash reserves for each property you own (PITI stands for principle, interest, taxes and insurance)
- 720 middle credit score
So it’s that simple, this is all we require for mortgages 5-10. Send me an email at homeloan8@gmail.com or call 858-922-7899 if you have any questions.
Some advantages of conventional loans today:
- 5% down payment conventional loans if owner occupy
- 3% down payment Homepath mortgage on Fannie Mae owned properties owner occupy
- 10% down payment Homepath mortgage on Fannie Mae owned properties 2nd home or investment
- Homepath mortgage on Fannie Mae owned condos require no condo qualifications
- Conventional interest rates are possibly the lowest they have ever been in history
- Loan amounts up to $729,750 in many areas of California such as Los Angeles, San Diego, San Jose, San Francisco, Alameda County, Contra Costa County, Santa Barbara County, Orange County and more
For more FHA, conventional, VA, or Homepath loan information in California feel free to send me an email at homeloan8@gmail.com or call at 858-922-7899.
Warmly,
Rob Chomentowski
Sr. Loan Officer (FHA, VA and conventional mortgage loan specialist)
858-922-7899
Related posts:
- Fannie Homepath Mortgage, Great Option to Buy In California
- Fannie Mae Homepath Loans An Excellent Alternative to Getting FHA Loan California
- Fannie Mae Homepath Conventional Loan vs FHA for California Home Buyers
- Conventional Interest-Only and Adjustable Loans Now Harder to Qualify for In California
- Convention Loan vs FHA – Conventional Now Requires 7 Year Wait After Foreclosure in California
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