Green House

Sellens Real Estate Lending

Professional Real Estate Lending since 1991

Blanket Loans

Are you an Investor looking for financing to acquire more single family residence properties and you already own more than 4 real estate properties before the new acquisitions. The properties show ownership when the credit is run and the properties are financed. One solution is a Blanket Loan.

It is hard to find programs with the best interest rates for single family residence property investors in real estate that have financed more than 4 to 10 real estate properties, including their principal residence.
However, there is a way to handle bundling the borrower's investment properties, but the rate will be higher.

I have a new Blanket Loan Program to take some of the financed SFRs off your credit report. The cost is kind of high, but if you had little loans to put together, it might not be bad:

The loan is a full thirty-year adjustable loan, with the first year rate fixed at 8%. After the first year, it is an adjustable blanket loan.

The PPP is for 5 years. You can buy it out for 1 point.

The bank charges 3 pts for the loan and I would charge the same.

So, if you combined some financed single family residence property loans, the total points would be 6%. Still up there in costs, but in some cases it might be worth it.

I am always looking for these types of loan programs. Investors really need them now. The only other program I found (which required 740 plus score) has now gone away. But, I will look hard to find other new programs.

Please contact me to get more details on these real estate investor Blanket property loans. Programs change all the time. Judy@sellenslending.com

 

This would be your new home

 

 

If you borrowed money from SBA, they would want to encumber your business as well as your home.

 

 

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