Posted on: 08th Jan, 2014 03:32 pm
My borrower owns 11 properties in Los Angeles Counnty, Ca.
Wants to buy a 12th investment property which is 4 units, excellent credit and cash. I am looking for a lender.
Wants to buy a 12th investment property which is 4 units, excellent credit and cash. I am looking for a lender.
Hi John!
Welcome to the forums!
You will have to get in touch with local lenders and take their opinion in this regard. They will let you know whether or not your borrower will be able to get a mortgage for 12th investment property.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
You will have to get in touch with local lenders and take their opinion in this regard. They will let you know whether or not your borrower will be able to get a mortgage for 12th investment property.
Feel free to ask if you've further queries.
Sussane
How many of the 11 properties are financed/have a mortgage on them?
If 10 or more are financed, you can no longer do a FNMA mortgage.
You will need a portfolio lender.
Go to: wwww.brokeroutpost.com
and ask your question there.
If 10 or more are financed, you can no longer do a FNMA mortgage.
You will need a portfolio lender.
Go to: wwww.brokeroutpost.com
and ask your question there.
