Doing business with Freddie/Fannie?

How do you go about getting a loan thru them? I looked at their website and feel I don’t understand how they work. Do you all apply directly to them?

Yes that does help. That was what I was understanding from their website. Is there a list of companies/banks anywhere that works with them. The reason I’m asking is my local bank is saying no to any investment property, Their site says they are still lending for investment property.

Typically bigger banks will make the loans and them sell them to Fannie or Freddie. Some local banks will keep their loans in house for investment properties (using commercial loans). You can go that route, but will likely be dealing with slightly higher interest rates, shorter amortizations, and loans with a balloon payment.

Thanks Justin that helps alot. How about a raw land loan. I hav a piece I own free and clear I would like to borrow against. What would be my best route to go?

I would just start calling around to your local banks (both smaller and corporate). Shop it around. I’m sure they have some type of lending limit and land valuation system. I don’t have any raw land or experience w/ this, but you’ll probably find different places will lend up to different amounts and obviously for different terms too. The local banks will typically be more flexible while a chain will have to stay closer to their written guidelines.