Wednesday, December 3, 2008

Investors May Finance Up To 12 Properties

Here in Southern Oregon where we haven’t experienced the same level of real estate market devastation as California, Florida, Nevada and Arizona there is still a silver lining to be found in our beautiful puffy cloud skies.

With market values in Jackson County Oregon roughly 8% lower in our year over year statistics, we’ve also seen a steady contraction in the inventory of available homes for sale – also 8% lower year over year.

As is customary when the general populace begins to think we are seeing some great values, there are buyers coming out of the wood work…450 of them, to be exact, from August 1st through October 31, 2008 in the Rogue Valley.

Many of these buyers are investors, savvy, experienced, and taking advantage of some great bargains. Until recently, these investors might be able to take out purchase money financing with no limitation on the number of financed properties they owned. This has just changed:


  • Max LTV for investment properties is now 65%.

  • Cash-out on 3-4 unit investment properties is limited to 60% max LTV.

  • The number of financed investment properties owned by one borrower is limited to 10 (this does not include their financed owner-occupied and/or second homes).

  • Out-of-State investors are strictly case-by-case, and limited to 60% max LTV.

  • At this time, there are still no exceptions allowed under the Non-Owner Occupied program.

For Investors meeting Fannie Mae Underwriting criteria (680+ credit score) may put as little as 15% down, but cannot have more than 10 financed properties INCLUDING THEIR PRINCIPAL RESIDENCE AND SECOND HOME.

Still not bad, all things considered. So, Southern Oregon investors, call today for your free consultation, or go online at .

See you at the closing table!

Karen Cooper – OR/CA Mortgage Consultant –

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