https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0822.pdf
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Saturday, September 6, 2008
Even before the government takeover, more changes at Fannie Mae
As Fannie Mae and Freddie Mac await the government takeover, they both continue to tighten lending guidelines. The latest from Fannie Mae limit the combined loan to value for those who have an equity line on their home or are using an equity line to purchase a home. In addition, unless you are putting 25% down or more on investment properties the cost to acquire the loan has gone up. For investors there is even more bad news as the number of properties financed continues to shrink. For all of the changes, please go to this link;
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