Ineligible Properties
Fannie Mae does not purchase or securitize mortgages on
- vacant land or land development properties;
- properties that are not readily accessible by roads that meet local standards;
- agricultural properties, such as farms or ranches;
- units in condo or co-op hotels (see B4-2.1-03, Ineligible Projects), for additional information;
- properties that are not secured by real estate such as, houseboats, boat slips, timeshares, and other forms of property that are not real estate see (B4-2.1-03, Ineligible Projects), for additional information;
- boarding houses;
- bed and breakfast properties; or
- properties that are not suitable for year-round occupancy regardless of location.
For additional information, see B2-3-01, General Property Eligibility