Maximum number of financed properties

November 7th, 2021
monopoly houses

There are some mortgage agencies, like Fannie Mae, that will not do a loan for an investment property buyer that already has what they consider to be excessive financed properties.

If you are buying a new primary residence, there is no limit to the number of financed properties that you already have.

However, if you are buying a second home/vacation home or rental property, you cannot have more than 10 financed properties already. Read the rest of this entry »

Bookmark and Share

The Best Up & Coming Neighborhoods in DC for 2017

December 8th, 2016

best-up-coming-neighborhoods-dc-investment-brian-martucciWhat makes a neighborhood “up and coming” in the DC area? You may have heard of the U-Street corridor and remember that it used to be abandoned buildings and vacant lots. Now it’s where professionals want to live, it’s trendy, and packed with diners and shoppers. Even though it took years of slow transformation, it would have been nice to own property before it got hot. Read the rest of this entry »

Bookmark and Share

If I Want To Keep My Current Property And Rent It, And Buy A New Property, I Have To Do What…???

May 22nd, 2010

If you are looking to buy a new house, and want to keep your current home as a rental property, on a Conventional loan you need to show the lender who is making the loan on your new home some things that you would not if you were selling your current home instead of renting it. You need to show 6 months “cash reserves” after the down payment and closing costs on the new house, and you need a 70% loan-to-value (LTV) on your current home, as evidenced by an appraisal. Fannie Mae and Freddie Mac have this significant equity requirement they force banks to follow because they are trying to avoid people who aim to do a strategic default, now or in the future. Many people in the post 2008 collapse  Read the rest of this entry »

Bookmark and Share