Key Word：Financed property, Limitation of number
Do you feel confused when it comes to financing your home but being told you cannot do that cause the properties you owned already exceed the financed limitation? Let’s get the point of financed property today!!
Financed properties means a real property which you own individually or all borrowers collectively owned with respect to any Loans. FNMA and FMCC are almost on the same stage. If you are doing your primary home loan, cool, never mind how many financed properties you have. But if you are going to do your vacation home or investment, a limitation with maximum 10 financed properties must be followed. What’s more, when the number of properties is greater than 6, LPA must with a risk class of accept, meanwhile, the minimum credit score is 720.
For instance, Sunny has owned 7 properties in situation like below:
Refer to this, may it will be easier to know whether my property could be included in the financed properties then.
AAA Lendings is a direct mortgage lender with over 20 years of lending experience. We have a group of experienced professionals providing services for home buyers and people with mortgage needs. We offer 100+ customized loan programs in conventional, FHA, VA, EZ qualified and foreigner nationalloans. We always put customer's needs first and provide the best customized solution for each customer.
阅读原文 阅读 1184
