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Finance Options with More Than 10 Rental Properties

Real estate investors often run into issues with financing properties once they hit about 10. Having more than 10 mortgages isn't allowed by many lenders. Some won’t loan to borrowers who have as few as 4 mortgage loans on their credit. So, how are you supposed to build your empire to 20, 30 or even 100 properties?

There are a few ways you can find the financing you need, when you have more than 10 rental properties. Since most lenders will stop loaning you money after you have 4 to 10 mortgages showing up on your credit report, you need to know where to turn, in advance. Here are a few ways to finance more than 10 properties as an investor.

A blanket mortgage allows you to finance an entire portfolio of rental properties, without limits. Builders and developers often use these types of loans along with commercial property investors. When you need to fund more than one property, you can use a blanket loan, which will act as one loan with a single servicer. This not only helps you to finance more than ten properties, but also helps to cut down on the paperwork of managing payments each month.

For the rental property investor, a blanket mortgage makes plenty of sense. If you have five or more properties, refinancing with a blanket mortgage may provide you the cash you need for improvements and help to cover holding costs, as well as for expanding with new acquisitions. It’s important to find a lender that's investor friendly and offers longer amortization schedules to give you lower payments. The right lender and the right blanket loan may be the answer to your issues of financing more than 10 properties.

Often, lenders will offer blanket mortgages for five to ten years with a fixed rate with full amortization up to 30 years, some with non-recourse options. You may be able to get up to 75% loan to value of the value of your entire portfolio, and the loans will range from $500K up to more than $5 million.

It's even possible to use the multifamily blanket mortgage option from lenders if you don't just own single family homes. You may be able to include multifamily property loans, so you can finance all your rental properties without worry.

There are several blanket loan options to help with financing multiple properties. As a rental property investor, you don't have to stick with traditional mortgage and stop investing when you hit your limit. Maybe you already have four properties or even ten, and your bank has told you they won't approve another mortgage. Find the right lender offering multiple blanket loan options and you won't have to worry any longer. You can continue to grow your rental property empire as large as your goals.

 

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About Rental Home Financing:

Rental Home Financing, as the best mortgage lenders we originate rental home loan products and cash out refinance investment property loans as the best investment property refinance lenders. Commercial blanket loans are available with a commercial purpose to suit your needs.

Also, as DSCR loan specialists, we are currently authorized to make such loans in most all areas of the United States. Specific circumstances will determine whether we have the ability approve/close portfolio rental home loans in your state(s). When you are ready to get a mortgage for rental property, we are ready to serve you.

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