High balance loan limits are back up to $729,750

Posted on March 3rd, 2009 by domi

Good news for you buyers out there: The loan limits for Fannie Mae, Freddie Mac and FHA loan guarantee programs, which were bumped back down to $625,500 in high-cost areas on Jan. 1, were restored to the temporary $729,750 - approved by Congress a year ago in the Economic Stimulus Act of 2008 - courtesy [...]

Filed under: Uncategorized | No Comments »

Fannie Mae increases limit on how many properties an investor can buy from 4 to 10

Posted on March 3rd, 2009 by domi

Investors buying the 5th through 10th home will need to meet the standards illustrated above and the following:
1. 720 credit score
2. 25% downpayment for a 1-unit (30% for a 2-4 unit)
3. No mortgage delinquencies in the last 12 months
4. 6 months of reserves for each investment property

Filed under: investment properties | No Comments »