Financing 10 or more properties

[KevinAmolsch 0]

It is getting tougher and tougher to finance more than 10 properties. We only have two lenders that will do this and they are both portfolio lenders. It is getting impartive to get these loans off your credit. You can do this one of two way

Blanket loans

Finance in your llc or corp

 

As long as the LTV is 70% or less and your credit is 680 or higher we can finance each property in your llc and completely remove it from your personal credit file. You will be personally guaranteeing the loan it just does not get reporting in your name.

 

Rates are a little higher but with all the new guidelines it is getting more important to remove loans from your credit.

 

Please let me know if there is anything I can do to help.

 

Kevin Amolsch

Kevin@lassitermortgage.com

[Craig 0]

It is getting tougher and tougher to finance more than 10 properties. We only have two lenders that will do this and they are both portfolio lenders. It is getting impartive to get these loans off your credit. You can do this one of two way

Blanket loans

Finance in your llc or corp

 

As long as the LTV is 70% or less and your credit is 680 or higher we can finance each property in your llc and completely remove it from your personal credit file. You will be personally guaranteeing the loan it just does not get reporting in your name.

 

Rates are a little higher but with all the new guidelines it is getting more important to remove loans from your credit.

 

Please let me know if there is anything I can do to help.

 

Kevin Amolsch

Kevin@lassitermortgage.com

 

Kevin, Thanks fpr information. If buying within the Corp. we still must personally back the loan. Does this affect my personal credit score even if in the low 700's?

[jimculler 0]

It is getting tougher and tougher to finance more than 10 properties. We only have two lenders that will do this and they are both portfolio lenders. It is getting impartive to get these loans off your credit. You can do this one of two way

Blanket loans

Finance in your llc or corp

 

As long as the LTV is 70% or less and your credit is 680 or higher we can finance each property in your llc and completely remove it from your personal credit file. You will be personally guaranteeing the loan it just does not get reporting in your name.

 

Rates are a little higher but with all the new guidelines it is getting more important to remove loans from your credit.

 

Please let me know if there is anything I can do to help.

 

Kevin Amolsch

Kevin@lassitermortgage.com

 

Kevin, Thanks fpr information. If buying within the Corp. we still must personally back the loan. Does this affect my personal credit score even if in the low 700's?

 

 

Craig, not if you are buying with a blanket loan. If you are purchasing or refinancing into a blanket loan, it is a loan that will not report to your credit file.

 

That is why he was saying you should use it to free up the amount of mortgages on your credit. It opens up the possibilities of financing Fannie Mae again, since you will have less than 10 properties financed on your credit report.

 

The blanket loan is closed in the name of your corporation, and you will personally guarantee the loan. It is required that these properties be income producing, and the DSCR (I can explain later) is what determines your qualifications moreso than the credit scores alone.

 

In addition you will want to use this for properties that you do not intend to sell in the near future, as partial releases (selling one property at a time) can be complicated, and done on a case by case basis even with the best of lenders for this product.

 

I hope this may have addressed some of your questions.