The Real Deal Miami

Fannie rules start to welcome small investors

May 26, 2009 04:50PM

Fannie Mae has relaxed its guidelines to allow small-scale real estate investors to carry up to 10 mortgaged properties, up from its earlier limit of four. The change from the limit imposed in September allows property owners who’ve invested in extra houses to add to their portfolios or refinance to take advantage of low rates. Scott Bray, vice president of residential lending for AmeriBest Mortgage in Satellite Beach, says many purchases are cash deals.