Investors with multiple residential properties will pay higher rates.

By sonoran • June 8th, 2008

Investors who own more then 10 properties had difficulty obtaining financing secured by Freddie Mac and Fannie Mae which allowed for more favourable terms.
Starting August 1st a significant change is coming. 

Freddie Mac will no longer allow financing where a borrower owns more than 4 (four) financed properties.
If you own more then 4 financed properties this would be good time to consider refinancing those properties that are on adjustable rates, even if your rate will change in several years, its something you should consider now.

You will be able to get financing and buy property but, you will have to do it through a lender that does not follow Freddie Mac and Fannie Mae’s guidelines, which means, more then likely, higher rates and greater requirements.

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