Posted on: 28th Mar, 2010 08:01 am
I have about 15 fannie mae mortgages. These are 1-4 unit investment properties. Since 2008, I haven't been able to get fannie mae loans since they tightened the guidelines. If I specify my wife's ssn as the primary borrower can I get around this arbitrary limit? Any other way around it?
Hi john,
I doubt whether you would be able to refinance the loan as the rules and guidelines have been tightened by FHA after the real estate crisis. You need to speak to the lenders and check out whether or not your wife being the primary borrower would help you in this regard. They will be the best to let you know.
Thanks
I doubt whether you would be able to refinance the loan as the rules and guidelines have been tightened by FHA after the real estate crisis. You need to speak to the lenders and check out whether or not your wife being the primary borrower would help you in this regard. They will be the best to let you know.
Thanks
There is no difference between any borrowers. A borrower is a borrower. Whether you consider one person or another as a primary borrower, each is equally responsible for the mortgage.
Not only can you not get a Fannie Mae loan, you can not get many other loans either. If anyone knew how to get a mortgage for you for additional investment properties, we would all be able to retire soon because there are so many people like yourself who want to obtain additional investment properties.
The only mortgage available are pretty much 50% down payment and 12% and six points. Pretty much takes out the profitability in investment properties.
Not only can you not get a Fannie Mae loan, you can not get many other loans either. If anyone knew how to get a mortgage for you for additional investment properties, we would all be able to retire soon because there are so many people like yourself who want to obtain additional investment properties.
The only mortgage available are pretty much 50% down payment and 12% and six points. Pretty much takes out the profitability in investment properties.
