In August, many lenders reacted to Freddie Mac’s new policy limiting the number of mortgage loans a borrower could have to 4 in anticipation of Fannie Mae following suit, as it often does, by implementing the same policy. Fannie Mae has yet to follow Freddie Mac’s lead, but many lenders expect it to in the near future and are still limiting mortgage loans to 4 per borrower. However, some lenders have chosen to lift the loan limit until that happens, providing a window of opportunity for real estate investors to qualify for as many as 10 conventional mortgage loans.
With current low interest rates, plenty of inventory and lower prices, this is great news and a window of opportunity investors shouldn’t miss. Call your Group Realtor for a list of lends who will exceed the 4-loan limit. Our sources say the deadline is as early as October 10.