Tag: minimum distance

Minimum Distance Requirements Between Primary Home & Second Home

Question: Is there a minimum distance required from a second home to the primary residence? MTP™ – Second Home or Investment Property? Answer: No. Lenders may impose them, but Fannie does not. Here are the requirements for a 2nd home from their selling guide.Second Home Properties Must be occupied by the borrower for some portion […]

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Minimum Distance from Primary Residence to Second Home

Question: Does Fannie Mae have a minimum distance requirement between a primary residence and a second home? Answer: Fannie Mae does not reference a minimum distance requirement. These types of requirements are driven by individual lenders and their restrictions/overlays in the absence of specific requirements from one of the agencies. Many lenders will want it to […]

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