For the last few years it’s been very difficult to finance a portfolio of residential investment property. Banks are very reluctant to fund an investor who has more than four mortgages. This program solves that challenge, allows you to utilize a blanket loan to pull cash out of your equity, consolidate payments and lower your rates to hold rental property for better cash flow.
Here are some highlights of the blanket loan program:
+ Cash out refi allowed, no limit on amount
+ No limit on properties owned
+ Fund as few as 2 properties
+ No seasoning required
+ Residential or Commercial properties
+ Rates 4.99% to 8.80% fixed
+ Amortized 15 to 30 yrs
+ Points are on a case by case basis depending on loan size and credit
+ Term 5 to 30 yrs
+ 600 min credit score, lower on a case by case basis
+ Personal income and debt ratios are not considered
+ $100K min loan amount, no max
+ Up to 75% LTV
+ May be used to purchase a portfolio or refinance
+ Non Recourse available
+ Some are assumable
+ Foreign Nationals accepted
*Please note that we are now able to fund blanket loans as small as $200K with min property values of $35K. The rate is higher in this program but is amortized over 30 years. Contact Tom Lowry for more info at 216.470.2657.
Contact us at firstname.lastname@example.org for more information.