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sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Any one has more information on changes in lending rules when it comes to lending to some oen who has already borrowed money for an investment property

This i what i have hard and read

If the rental is rneted for more than six months the rental income will be counted when they calculate the debt to income ratio

If your hosue is not yet rented and if you want to buy anoher house and mpove in to it, you will need to show atleast 6 months of reserves to pay for both the property and also your house needs to be rented before your loan is funded

All this is to aviod people from leaving the current house becuse the house vavlu has dropped and buy a another house with lower price

Please share any more detils if you know

There is not much discussion about his on this forum

Niicss · Posted: Mon Sep 21, 2009 2:31 am Post subject:

As far as I know, earlier, people could get a mortgage for an investment property if they owned up to 10 properties. However, now Fannie Mae and Freddie Mac have restricted their lending rules for investment properties. Now, people can only have four investment properties and get a mortgage.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

But the rules are much more strict than before

Not only 4 properties but also the requirments are much more strict

leeelliot61 · Joined: 13 Sep 2009 Posts: 188 0.01 Dollars($)

Basic reason is down fall in property values. Finally major portion of losses goes to financial companies

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Thats not the reason

The main reason being, people were buyign houses which have lost value and they use to walk away from thier current property since it lost the value

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Changes in Lending Rules