Posted by Rich-CA on May 18, 2007 at 11:04:54:
Texas Mortgage Capital. I talked to them in 2005, when I was buying in TX, so I do not know if their programs have changed. However, they effectively had no limits except based on the creditworthiness of the borrower and the quality of the properties. I’m not sure it was 20 every 6 months, but it was definitely more than anyone else I talked to. The office I talked to is in San Antonio.
INVESTOR WITH OVER 25 PROPERTIES NEEDS LENDER - Posted by TONY
Posted by TONY on May 15, 2007 at 21:01:56:
Hello
I am in Ohio. I own over 25 sfh and multi units. I have mid to high 600 credit
score. Never been late on a payment nothing negative at all on my credit. I have
been a landlord for almost ten years I own my own s corp contruction company.
I am having difficulty finding lenders who will finance me wiht so many
properties. Does anyone know of lenders that will deal wiht investors with alot
of properties. Anyone know of places that offer lines of credit that I could qualify
for ? Any place for business loans? I would appreciate any help Thanks
Re: INVESTOR WITH OVER 25 PROPERTIES NEEDS LENDER - Posted by cyrilRichards
Posted by cyrilRichards on June 01, 2007 at 13:58:19:
please send me informationon what you want to do,so imay able to help you.we arecommercial and also residential mortgage consultants.with over 15 years in business.call me cyril richards,1718452-3449 or email .gcfcorp2005@yahoo.com
Re: INVESTOR WITH OVER 25 PROPERTIES NEEDS LENDER - Posted by Ben Carmona
Posted by Ben Carmona on May 16, 2007 at 17:45:33:
All 3 of the previous responses had valuable information.
Fannie/Freddie conforming loans up to 10, after that you have to use local banks or portfolio loans offered by many of the same wholesale lenders we use as brokers.
The # of properties you own wont slow you down. I have clients with many more than 25.
Ben Carmona
Re: INVESTOR WITH OVER 25 PROPERTIES NEEDS LENDER - Posted by Tom Resner
Posted by Tom Resner on May 16, 2007 at 11:01:06:
The difficulty you are having is a result of the fact that FHLMC/FNMA guidelines relegate you to no more that 10 properties.
I have a couple portfolio lenders with competitive rates that do not limit the amount of properties you may own. how many properties need financing? Are you looking for purchase money or refinances? If you want more details call 866-776-2915.
Business Banker - Posted by Jimmy
Posted by Jimmy on May 16, 2007 at 07:01:33:
you can seek out a portfolio home lender if you want, as the other response suggests. or you can talk to a commercial banker. they are not constrained by the same underwriting guidelines. so long as your financials are strong… but forget about 30 year ams.
Re: INVESTOR WITH OVER 25 PROPERTIES NEEDS LENDER - Posted by Rich-CA
Posted by Rich-CA on May 15, 2007 at 22:09:29:
You will need to look at lenders who do not package their loans for resale. Washington Mutual, Wells Fargo both keep the majority of their loans. WAMU told me they could do 6 loans every 18 months. I had a bank in TX tell me they could do 20 loans every 12 months, but I think that was a local bank. You may need to pound the pavement for local banks or find a good Mortgage Broker who will find those sources for you.
Have you tried an SBA loan?
Re: INVESTOR WITH OVER 25 PROPERTIES NEEDS LENDER - Posted by andrew
Posted by andrew on May 17, 2007 at 22:39:11:
Can you tell me what bank that was in texas that will do up to 20 loans every 6 months? I am in the same position as this gyu and cant find anyone to finance me. thanks