Fannie Mae Loans are used for acquisition or refinance of up to 80% Loan-to-Value. The programs are available with terms of 5-30 years, and with partial and full-term interest-only. This is a non-recourse loan meaning the borrower is not personally liable and therefore tax returns are not required to qualify. The loan is amortized over 30 years, assumable and the asset must be 90% occupied for at least 90 days at application. Cash-flow is analyzed by dividing the net operating income by the proposed payment and varies by asset class and product type. There are minimum provisions for net worth, liquidity and real estate experience needed to qualify.
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