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what is the minimum square footage acceptable for Fannie Mae?

by janesunny98819 from Rapid City, South Dakota. May 26th 2015 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

Fannie Mae does not specify minimum size or living area requirements for properties with the exception of manufactured housing (see B4-1.4-01, Factory-Built Housing: Manufactured Housing). There should be comparables of similar size to the subject property to support the general acceptability of a particular property type. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

May 26th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,930 contributions

Fannie Mae does not have a house size requirement... But it does need to have acceptable comparable properties in the area. For loans in SD, MN, and WI, visit www.JoeMetzler.com

May 26th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,240 contributions

Do you have a specific size in mind? As Joe mentioned, the size partly matters because the appraiser has to be able to find similar properties to compare with the home being purchase. If the home is too unique or too different from other homes in the area you may need non-Fannie/Freddie financing, possibly based more on the value of the land.

May 27th 2015
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