lookinf for a fannie mae loan in Nebraska for a house at auction to use part of the house foe rental

You do have to find out from whoever is responsible for the sale of the property at auction what their specific requirements are to bid on the home. Often times you can only purchase by providing cash within a pretty short period of time, and they usually want to see you can prove you have a certain amount of Liquidity. I have to guess, that "use part of the house foe rental" means you are going to be a primary occupant but also rent a portion of the home? Once you find out there requirements it maybe that you could focus your search on finding a regular home for sale offering that can be a great deal. Fannie Mae certainly has its own foreclosed on homes that you could buy outright for example. They even have their own loan offerings available thru various lenders at 3.0% down and with no monthly mortgage insurance. I have done those loans and they are terrific for the borrowers.