Fannie Mae – Current Principal Residence Pending Sale: Can you close on a new property before your present property closes?
Answer: Yes, provided you meet the following criteria. This guideline/policy applies to any/all loan types Fannie Mae offers. Remember that you need an executed purchase contract and all financing contingencies removed/cleared. Reference: B3-6-06, Qualifying Impact of Other Real Estate Owned (06/30/2015) Current Principal Residence Pending Sale If the borrower’s current principal residence is pending sale, but [...]