Posted on: 11th Jul, 2008 10:37 am
I am looking for a blanket mortgage to cover refinancing for 2 rental properties in the same building. Can you help me locate a lender?
Welcome writeme.
.
Blanket mortgage is a good option if you have more than one property. This is the right place to go about this. Have you seen the lender section? You can talk to them directly. Find the lender that suits you the most at http://www.mortgagefit.com/unitedstates/
Hope this helps.
.
Blanket mortgage is a good option if you have more than one property. This is the right place to go about this. Have you seen the lender section? You can talk to them directly. Find the lender that suits you the most at http://www.mortgagefit.com/unitedstates/
Hope this helps.
I would say if you have only 2 properties a blanket mortgage would be a bad idea. First they are tough to find nowadays and then you would be tying up these two properties up for the life of the loan. Second its hard to find any lender who is willing to lend above 80% on a non owner occupied properties period. You would be better off refinancing each property separately.
I am looking to refinance the two properties; and thought perhaps that would be a solution
Hey pygmalyn.
You can refinance the two properties with the Blanket Mortgage but the problem is it is heard to find a lender who approves for Blanket Mortgage. Have shop for lenders? You need to shop for lenders and check it out if anyone can help you out.
You can refinance the two properties with the Blanket Mortgage but the problem is it is heard to find a lender who approves for Blanket Mortgage. Have shop for lenders? You need to shop for lenders and check it out if anyone can help you out.