Conventional Financing - Posted by Mike Sutherland

Real Estate Investing Real Estate Financing
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Posted by Rich-CA on May 15, 2007 at 22:14:21:

That’s a load of bull. I agree with Gerry that this must be a newbie. First, its “residential” if its 4 units or fewer.

I had a problem like this when we tried refinancing a property through a friend who just became a Mortgage Broker. Neither he nor the people he worked with could understand anything having to do with a property we did not actually live in. Experience is where you get the understanding of what the lending business really can do.

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Conventional Financing - Posted by Mike Sutherland

Posted by Mike Sutherland on May 15, 2007 at 17:31:20:

I’m having a discussion with a conventional lender tomorrow just to check out their programs and see what’s available - he told me over the phone that investment property financing is considered a commercial endeavor and that it requires a limit of 20 years max financing - this doesn’t seem normal - or is it?

THANKS