When You Should Use Fannie Over Freddie…

Here’s a few examples of when you would want to use Fannie Mae for your Conventional loan instead of Freddie Mac.

If you are self employed, and have no business tax returns… Go Fannie Mae. If Borrower has been self-employed for 5 years or more, you only need to provide 2 years of personal tax returns IF page 1 of the returns indicate an increase in self-employed income.

If you have unpaid collections and non-mortgage charge-offs… Go Fannie. Fannie, on a primary single family residence, does not require ANY of them paid off. Freddie Mac does.

If you are a borrower with Multiple financed properties? Fannie Mae still goes to 10. Freddie caps you at 6.

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

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