Posted by Arpad on March 21, 2002 at 15:12:39:
Jason, i was told the same thing. I have four now. Looking to get more this year.
of properties financed - Posted by Jason
Posted by Jason on March 21, 2002 at 09:24:06:
I have my residential contractor’s license and I was going to finance several new construction homes long-term and lease option them to qualified tenant/buyers to increase my ROI (I’m a part-time builder and get beaten up by the full-timers on price). My credit score is 788 and my debt-to-income ratio is below 22%. The mortgage broker I have been speaking to says that the max. number of investment properties under financing at one time is 4. Is this true? How many properties have you guys seen under financing at one time?
Re: # of properties financed - Posted by Nick
Posted by Nick on March 22, 2002 at 14:37:34:
The number 4 comes from fannie mae. Mortgage brokers get loans from the secondary market. That market is controlled by fannie mae rules. If you want to finance more than 4 properties go to a local bank and talk a loan officer in commericial lending. Tell them you want portfolio loans. The banks commericial loan department makes there own rules for how many and how much. So talk to several and find out the best one.
Hope this helps
Nick