Posted on: 28th Feb, 2009 12:29 am
Would like to finance one of my investment properties. Credit score is approx 800, current on all payments, very stable employment, just looking to take advantage of lower rates. The property in question is at 66% LTV based on Zestimate, and is one of four rentals as well as our current residence (currently 36% LTV). Two lenders I spoke with said that new rules preclude lending, including refis, to people with 5 or more financed properties. Are there exceptions or lenders who will work with people in my situation?
hi guest,
i have also heard of this rule that you will not be able to finance 5 or more properties. i don't think there are lenders who will be working against this rule. but still i would suggest you to speak to some more lenders and check out with them. if you want, you may even speak to the lenders of this community and seek a no obligation free mortgage consultation from them. this will let you know whether you will be able to refinance or not. moreover, you will also come to know about the rates that you can get.
thanks.
i have also heard of this rule that you will not be able to finance 5 or more properties. i don't think there are lenders who will be working against this rule. but still i would suggest you to speak to some more lenders and check out with them. if you want, you may even speak to the lenders of this community and seek a no obligation free mortgage consultation from them. this will let you know whether you will be able to refinance or not. moreover, you will also come to know about the rates that you can get.
thanks.
guest, what state are your properties in? i think that might have a bearing on whether some of the portfolio lenders would consider such an undertaking.
There is always a lender out there especially at a 66% LTV
