In the recent months, investors were basically shunned by Fannie Mae in that the investor was unable to finance investment mortgages if the borrower already owned 3 other investment properties with a mortgage on them. But starting March 1^st, Fannie Mae will reverse their earlier decision and allow investors to own a total of 5 – 10 financed properties if they are eligible and meet their underwriting standards.

1. No bankruptcy or foreclosure in the past 7 years and pristine repayment on other mortgages
2. Documentation of rental income for new mortgage property and revenue history on other investment properties owned
3. 2 years of income tax returns
4. Applicants owning 4 or less properties will need 6 months of bank reserve to support the new purchase and 2 months reserve for the other investment properties they own. Borrowers owning 5-10 properties will need to show 6 months of reserves available for each property.