Posted by James Strange on July 07, 2003 at 18:32:48:
You have two choices one and this may be your best bet is to get a line of credit.
Or you can use a lender that does not sell loans to fanniemae/freddiemac. To do this you will need to work with a broker that you are comfortable with.
James Strange
reiloans@liborhomeloans.com
10 property maximum, guidance needed - Posted by randyOH
Posted by randyOH on July 07, 2003 at 16:09:49:
I am trying to get financing to buy four SFHs to complete a 1031 exchange. I already own 16 properties including my personal residence. A loan officer at B of A just told me they cannot help me because of the fanniemae/freddiemac limit of 10 properties.
Where do I go next? Should I contact a regular residential mortgage broker or should I look for a commercial lender?
Thanks in advance for your help.
Randy