Dealmakers Blog – Ramblings of a Real Estate Mogul

Posted By: Sean Terry | December 18, 2008

Do You Have More Than 4 Properties on Your Credit?

Update: February 7, 2009 – Fannie Mae Policy Change Starting March 1, 2009     Read More

If so you do not qualify for traditional conventional financing through Fannie Mae and Freddie Mac.  The “Guideline Change” took effect December 1, 2008. I know, this is absolutely ridiculous!!! I have spoke with seasoned investors that have 800+ credit scores and good income BUT they have 4 or more properties on their credit report and can’t qualify for a conventional loan.  Stupid!!!!

I could rant and rave about this change for hours, but I like to focus on solutions. We have searched high and low to find a portfolio lender that will do loans for our clients that have the “4 property rule” issue. Well, we have finally found a lender that will do loans just for Fortress clients.

Just for clarification purposes so their is no confusion:

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