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 if you choose an Equity (Hard Money) Lender.
Equity Loans mean that the lender does not look at your credit for security in repaying the loan. As assurance that you will pay, he makes sure that the equity in your house or building, is so substantial, that you would not allow the loan to default, and therefore use your equity. So you get a loan loan to value, but in some cases it is worth it.
Your best bet is contact your local bank first. That is, a lender who’s physical location is close to the property sites.
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 Loans. Programs change all the time. Judy@sellenslending.com