Can I finance more than 4 houses?
(2009-10-13 14:10:54)
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I just heard from my mortgage broker, that Fannie got new guidelines. They will now not permitting finance more than 4 properties. So now I have one for myself, and only got 3 investment property in this downturn. Am I out of luck already on getting more properties?
I read somewhere in February this year, Fannie just upped standard to you can finance up to 10 houses. But bank is reluctant to follow it, so you can still only buy 4 houses.
http://themortgagereports.com/2009/05/5-10-investor-properties-financed-fannie-mae.html
So is the new supposed guideline true?
If it is true, is there anyway to get around it to buy more properties during this golden opportunities?