Posted by jesse on July 16, 2001 at 11:43:25:
There are some fannie mae and freddie mac backed commercial loans with decent rates. I don’t know programs for Florida however i would check fannie’s web site and call some of the Ph#'s you may need to call several to get anyone who has a clue.
Good luck
FannieMae for multi-fam, anyone use this? - Posted by Shari Brown
Posted by Shari Brown on July 11, 2001 at 18:14:16:
My local mortgage broker told me FannieMae doesn’t do multi-family properties but info on their website says different. There seem to be a highly select group of lenders that are approved for this type of transaction. Does anyone have experience with this? I am specifically interested if the loan is for 80% of appaisal or purchase price. Any other info would be appreciated too. Thanks!
Re: FannieMae for multi-fam, anyone use this? - Posted by Nick Bowers
Posted by Nick Bowers on July 13, 2001 at 05:05:58:
I just closed a deal in Florida for 2 triplexes with a FannieMae loan. The loan was for 90% of the purchase price. The name of the loan program is FannieMae 90% investor loan. They will only loan on 4 units or less. Good Luck.
Nick
Re: FannieMae for multi-fam, anyone use this? - Posted by jesse
Posted by jesse on July 13, 2001 at 22:18:01:
Fannie mae loans offer 10% down on investor properties up to 4 units. If you live in NY I have an great 80-90ltv loan that will go off appraised value, give you money to rehab and the rate is in the 8% range.
Good Luck
Jesse
Re: FannieMae for multi-fam, anyone use this? - Posted by richard
Posted by richard on August 02, 2001 at 21:51:21:
hello jesse. could you please email the name and # of the 80 to 90% ltv program you mentioned? thanking you in advance…richard
Re: FannieMae for multi-fam, anyone use this? - Posted by Shari Brown
Posted by Shari Brown on July 14, 2001 at 19:57:21:
Thanks for the offer. I live in Central Florida, though. Do you know of the fanniemae program for greater than 4 units?