Realtors® Tom &Bev Herring ~ Tulsa, Oklahoma Real Estate
Many real estate investors follow the guidelines of Fannie Mae, which is a major mortgage investor themselves. And good news investors; Fannie Mae has recently increased the number of properties an investor is allowed to carry. The property limit imposed since September stated that investors were only allowed to carry four financed investment properties at one time. However, now things are changing and investors will be allowed to carry 10 financed investment properties at one time.
The limit change took effect in March, which was welcomed by many investors nationwide.
Before the invest property limit was raised, investors who owned more than four homes couldn't refinance one of their properties or add a new mortgage even if they had a down payment and perfect credit. It was crushing many investors who wanted to add to their list of investment properties.
Now that the 10 financed investment properties are back, many investors are happy that they will be able build their investment list once again.
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