There are many restrictions to financing a rental property - including the following:
Having more than 4 mortgages or more than 10 mortgages
Cash out over 4 mortgages
Cash out over 10 mortgages has a different level of restrictions
Purchasing an investment home over 4 mortgages affects amount of down payment
Loans over the conforming rate limit $417,000 or $625,500 in certain areas of California
Residential / commercial mixed use properties
Properties with 5+ residential units
Rental condos in buildings with a high renter ratio
Down payments fluctuate depending on all of the above scenarios.
FICO levels affect all of the above in cost and rate.
For help understanding the best financing available for your currnet home or investement proprty, please give me a call.
Mario Pinedo
Banc of California
Cell 415-269-6249
Office 949-381-2901
NMLS 1029116
