http://realestate.realhow.com/how-to-get-more-than-10-mortgages-on-investment-properties/ Socially Responsible Real Estate Investing Wed, 03 Dec 2008 13:01:39 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://realestate.realhow.com/how-to-get-more-than-10-mortgages-on-investment-properties/comment-page-1/#comment-117 John S Tue, 19 Jun 2007 04:34:37 +0000 http://realestate.realhow.com/how-to-get-more-than-10-mortgages-on-investment-properties/#comment-117 the "10 max" guideline is for Fannie Mae and Freddie Mac backed loans. try checking with a mortgage broker that may have access to private investors who can/will finance above and beyond 10. the “10 max” guideline is for Fannie Mae and Freddie Mac backed loans. try checking with a mortgage broker that may have access to private investors who can/will finance above and beyond 10.

]]> http://realestate.realhow.com/how-to-get-more-than-10-mortgages-on-investment-properties/comment-page-1/#comment-116 matzael Mon, 18 Jun 2007 02:53:06 +0000 http://realestate.realhow.com/how-to-get-more-than-10-mortgages-on-investment-properties/#comment-116 You can still find a few conforming lenders willing to exceed the 10 property max. It's only going to be lenders willing to hold onto the mortgages as opposed to sell them to Fannie Mae so they're few and far between. You have really 3 options. 1. Look into purchasing in the name of an LLC or escorp or some such. Obviously this would be a commercial deal and they'd start looking at things like DCSR of the property so it may not be the way to go. 2. Look around and find a reputable mortgage broker who does this type of business. Ask them upfront if they have lenders that deal with more than 10 mortgages and compare a few offers. 3. Look into restructuring the mortgages. Depending on your equity situation you may be able to use some of the properties to pay off some of the other mortgage in full. This is typically the most expensive option as every mortgage you refinance to juggle equity has closing costs. It can be done, for this type of loan I'd suggest looking at brokers as they tend to have more programs than any single bank. Even a big bank like BOA only offers a fraction of mortgage products available. You can still find a few conforming lenders willing to exceed the 10 property max. It’s only going to be lenders willing to hold onto the mortgages as opposed to sell them to Fannie Mae so they’re few and far between. You have really 3 options.
1. Look into purchasing in the name of an LLC or escorp or some such. Obviously this would be a commercial deal and they’d start looking at things like DCSR of the property so it may not be the way to go.
2. Look around and find a reputable mortgage broker who does this type of business. Ask them upfront if they have lenders that deal with more than 10 mortgages and compare a few offers.
3. Look into restructuring the mortgages. Depending on your equity situation you may be able to use some of the properties to pay off some of the other mortgage in full. This is typically the most expensive option as every mortgage you refinance to juggle equity has closing costs.
It can be done, for this type of loan I’d suggest looking at brokers as they tend to have more programs than any single bank. Even a big bank like BOA only offers a fraction of mortgage products available.

]]> http://realestate.realhow.com/how-to-get-more-than-10-mortgages-on-investment-properties/comment-page-1/#comment-115 too l Fri, 15 Jun 2007 11:05:33 +0000 http://realestate.realhow.com/how-to-get-more-than-10-mortgages-on-investment-properties/#comment-115 lepr0kan said it best. You should thank about putting 2 properties per LLC. Protect your self and the other properties from law suit and or other problems. lepr0kan
said it best. You should thank about putting 2 properties per LLC. Protect your self and the other properties from law suit and or other problems.

]]> http://realestate.realhow.com/how-to-get-more-than-10-mortgages-on-investment-properties/comment-page-1/#comment-114 lepr0kan Wed, 13 Jun 2007 17:47:34 +0000 http://realestate.realhow.com/how-to-get-more-than-10-mortgages-on-investment-properties/#comment-114 That's about the max I've found as well. Most lenders seem to be limiting investors to having 10 mortgages. Perhaps, if you began owning these properties under and LLC or S-Corp it would be possible to find lenders willing to grant more mortgages to a company rather than an individual. That’s about the max I’ve found as well. Most lenders seem to be limiting investors to having 10 mortgages. Perhaps, if you began owning these properties under and LLC or S-Corp it would be possible to find lenders willing to grant more mortgages to a company rather than an individual.

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