Investor Alert

Calling all investors!  Fannie Mae has a great way for investors to purchase single family homes for only 10% down and no mortgage insurance!! has a complete listing of the homes eligible for this great financing program.  The homes must have past the “First Look” (15 days) but are then eligible for investors to bid on the home.

There is NO appraisal, No mortgage insurance and only 10% down for investors.  What a great opportunity!  Call me today to qualify for one of these great homes!

Karen Cox 503 385-4050 or .


Investor Alert

For all you investors out there, here is a great opportunity, just when you thought the investment opportunities were gone!   This website has homes owned by FannieMae that are for sale.  These homes qualify for special financing for all investors.  The minimum required investment is only 10% down.  Yes, really only 10%!!!  Mortgage insurance is not required on these propertis and an appraisal is not required.

Now, just a few of the disclaimers, borrowers can not have more than 4 financed properties on this program, credit score must be 660 and you must qualify with the full payment with no offsets for the proposed rental income.

Check out the website and contact your realtor to view any homes and make an offer!  Call me for all loan parameters and details.  503 585 1105 or

New Updates

It has been a few weeks since I have had a moment to post anything. I apologize for that but as the lending industry is still changing on a daily basis, I must keep up.


Lenders are still trying to slow their volume by manipulating rates so that borrowers are not locking in rates. Some lender are having issues with their credit lines and either reaching their limits or having the holders of the credit lines auditing files and putting stricter restrictions on the files before they will allow the funds to be disbursed.  This is a new review of files that are delaying loans even further.  In the “good ‘ole days” a refinance would sign loan documents and after the required 3 day right of rescission where a borrower can legally change their mind and cancel the transaction, the loan would fund.  In today’s market, this process can take 6-8 extra days to fund.  Loans are still funding just be prepared for delays.


Lenders are also increasing credit score requirements even further still.  I have an additional post in regards to credit scores and how to raise your scores in a relatively short amount of time.


On a positive note, Fannie Mae has relaxed a bit and will now allow up to 10 financed properties again.  Investors are happy.  There are new additional requirements to purchase or refinance 5-10 properties, including a new minimum credit score of 720 and significant cash reserves but it’s a start!


Also on a positive note, thanks to the stimulus package, FHA loan limits are back to 295,000 in Marion and Polk counties. This is good for several reasons.  The biggest one is that FHA’s credit score requirements are lower and they have no pricing adjustments for the lower scores.


Are we seeing the end of the tightening cycle? I don’t think so yet, but I do think we will soon.  It seems that our new Administration does see and acknowledge the problems, we will just see how it all plays out with the many differing opinions.