Fannie Tightens On 2 Units

Posted on July 20th, 2009 in All Articles.

Fannie just introduced 80 percent ltv on two units, period!

More tuff news for the owners of multi units– now there is less financing available for the buyers out there to purchase.
As we have tracked the city on multi unit median sales — from Pilsen,lOgan, Hermosa, Through McKinley to South shore, Gage, Marquette park, Beverly,Midway etc we have been amazed at the drops in multi unit median sales of three and four units.
This is directly tied to the goodbye kiss of financing options for 5 or 10 percent down on the classic multi unit income property. Even owner occupants are getting locked out now.
I don’t think this further restriction on two units is going to help –I predict a increased decline in price in the citys n’hood from this action. For stats on multi units …. Email me. I have charts per n hood.