Fannie Mae now allows multiple ADUs up to 4 units!

The Big Gorilla of the mortgage industry has made game-changing guidelines on ADUs that will allow your clients to build multiple ADUs, up to four units total. Fannie Mae will both finance the construction and refinance of a property with multiple ADUs, which was not available before. Reach out to past clients who may have been limited by financing options to get them restarted. Or give us a list to follow up with and my team will call them.

Fannie Mae also updated appraisal guidelines to treat ADUs more like multiplex properties, requiring appraisers to do a market analysis with rental income. This should help eliminate $0 appraisals on ADUs but we continue to train our specialty ADU appraiser panel.

Finally, Fannie now allows a 50% payment to factories to order a factory-built home, whether modular or HUD manufactured. Finally, factory owners do not have to float the cost of factory construction!