Refinance Options for Owners with Multiple Properties
Many Real Estate Investors with Multiple financed properties run into difficulty when trying to Refinance their Primary Homes, Second Homes, and Rental Homes due to limits many Lenders place on Total Number of Financed Properties that may be owned by applicants. We allow you to have up to 10 financed Properties when Refinancing your Investment Home or Second Home. If you are financing your Primary home, we do not limit how many other properties you may own.
We offer Refinance options for Second Homes or Investment properties (NOO) for owners with up to 10 financed properties, and we have no limit on the number of properties when refinancing your primary home.
Refinancing your investments and Real Estate portfolio can help create added cash flow and opportunity for Real Estate Investors, which allows you to add more Assets to your Real Estate Portfolio. Unlike many Lenders that still limit borrowers to 4 financed properties maximum, We allow up to 10, creating a solution for Owners with 4+ properties or multiple properties.
If you have found difficulty finding financing for your home or homes, I repeat the Good News: We allow you to have up to 10 financed Properties when financing Rental Properties! We also have no limit on total properties, just the number of financed Residential Real Estate Properties, so your Free and Clear rentals won't count towards the total.
Here are the basic guidelines to qualify:
> If the property being financed is your primary home, we have no limit on the total number of properties financed.
> Fico score - must be 720+ mid score.
> Must be Full Income Documentation. No exceptions.
> 25% down payment is required for Purchases on Single Family Homes
> up to 70% Loan to Value on Non-Owner Refinances
> 6 months of PITI payments in liquid/cash reserves for each financed property. For example if you have 3 properties with a monthly PITI of $2000 each, you would need to have 6 months x $2000 x 3 properties or $36,000 in cash/liquid reserves.
For help with this loan or other Multiple property loan scenarios, give me a call at 866-900-2342 toll free direct, ask for Brian Skaar. Or apply via our website at www.vandykfunding.com.
These loans are available up to $417,000. We offer financing in many states including: California & Washington. VanDyk Mortgage is a Direct Lender offering conventional, FHA, VA, USDA, & Jumbo loans.
Providing solutions for those who want to finance multiple properties, or who own multiple properties and need Home Loan Financing on an Investment or Rental home.
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