For two weeks our lender has had our contract with a seller to purchase a 2nd home. Purchase is $ 515K and we requested 30 year fixed loan of 412K and have 20% to put down. We have the title to our 1st home– no mortgage, HELOCs or liens. Credit scores are high. Our lender has now told us Fannie Mae guidelines will not allow him to loan on the property because the house sits on 38 acres, and loan needs to be on home on less than 10 acres. He says this has nothing to do with our financial ability to get the loan. Any brokers or lenders out there have current Fannie guidelines that might say this is a lender decision, not a firm Fannie guideline? Is this a new Fannie policy? Or can anyone give suggestions about where to finance this? Property was 1 day from the formal lender appraisal when we got this news.