February 18, 2018

Fannie Mae Investor Loans

Phoenix real estate investors are taking advantage Fannie Mae investor loans with only 10% down to purchase multiple investment properties. 

With the current low home prices, investors are flocking to Arizona and are buying Phoenix rental properties by the hundreds.  If you’re not paying cash and looking for attractiving Arizona real estate investor financing to allow you to purchase multiple homes, look into Fannie Mae investor loans. 

One deterring issue with purchasing an investment property is that it often requires a larger down payment and more stringent underwriting guidelines – typically 20%-25% down payment with conventional financing.  Even more if you’re looking at hard money or a private lender.

However, if you buy a qualified property that is a Fannie Mae owned property, the HomePath guidelines will allow as little as 10% down Fannie Mae financing for an investment property with NO private mortgage insurance and NO appraisal!

See all the Fannie Mae homes for sale in Maricopa County!

The requirements for Fannie Mae HomePath investment financing for investment propertie are as follows:

  • Purchase transactions only
  • Single Family Dwellings & Condominiums
  • Properties must be designated as Fannie Mae HomePath property (Fannie Mae Renovation Financing is not allowed)
  • Minimum mid-credit score of 660
  • Maximum Loan To Value of 90% (1-Unit properties)
  • Full documentation of borrower (income, employment, assets, etc.). 
  • Gift down payment funds not allowed with investment property
  • Maximum financed properties you’re allowed to purchase with this financing: 4

Here are some reasons why the Fannie Mae’s HomePath Mortgage Program for non-owner investor properties is beneficial and less cash out of pocket for you:

  • No mortgage insurance required
  • No appraisal.  Property value is accepted as the sales price and often times under market value
  • Fixed rate and ARMs available
  • Loan amounts up to $417,000 
  • Seller/Interested Parties may contribute up to 2% of the total purchase price towards paying some of your closing costs

It’s worth checking out this program for HomePath investor loans, if you have a limited amount of funds but want purchase multiple investment properties this might be a great route for you. 

Call us today at 480.442.9809 or contact us online  to discuss how we can help you find investment properties to purchase in Arizona.

Ff you need a recommendation to a participating mortgage lender who can help you with Fannie Mae investor loans, we can help you to0.

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