Investment properties coming soon:
1. 9 units for sale in an excellent area of Los Angeles - $1,800,000 price range.
2. 8 units for sale in a strong part of Santa Clara - $1,600,000 price range.
3. Short sale single family home - perfect rental property - Mission Viejo, CA - $390,000 range.
4. Short sale single family home - great rental - south San Jose, CA - $450,000 range.
For any of these opportunities, please contact us for details.
Friday, February 22, 2013
Thursday, February 21, 2013
Single Family Home Investments Restricted by Lender Rules
It may not be the worse problem in the world but owning more than 4 rental homes may start to be a problems with lenders. Most lenders these days limit an investor to have 4 non owner occupied homes loans. Some lenders will allow up the FNMA maximium of 10 home loans outstanding. This 5-10 home loan window is restricted to only Rate & Term refinances and no cash outs typically.
There are other sources for financing when you hit this limit - but these are portfolio lenders and the rates and hoops to jump through become more difficult.
Alternative products such as 5+ unit apartment buildings and retail investment commercial real estate are non-restricted options if an additional single family home rental may not be.
It is always a good idea to talk to a reputable lender - especially one who deals with investment properties on a regular basis - before taking on the next investment property purchase.
There are other sources for financing when you hit this limit - but these are portfolio lenders and the rates and hoops to jump through become more difficult.
Alternative products such as 5+ unit apartment buildings and retail investment commercial real estate are non-restricted options if an additional single family home rental may not be.
It is always a good idea to talk to a reputable lender - especially one who deals with investment properties on a regular basis - before taking on the next investment property purchase.
Subscribe to:
Posts (Atom)