I am looking for an investor that will accept a borrower with excellent credit, income and strong reserves that currently has 8 financed investment properties. My client wants to refinance 3 of her investment properties. Fannie Mae is currently allowing maximum 4 financed investment properties. Any Ideas?
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Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!
Why the refi? A private investor is going to want quite a bit more of a return compared to traditional lenders.
Private lenders don't have the government guarantees that banks to. So the deal is riskier.
Nov 28, 2008 12:52 AM
Gaithersburg, MD
Certified Mortgage Planning Specialist
Customer is refinancing because the adjustable rates have either re-set or are about to re-set. She is looking to re-finance into fixed rate mortgages. She would not be interested in dealing with private lenders as in hard money lenders.
Thanks for your comment.
Nov 28, 2008 01:09 AM
Rainer
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Hans Iduma
Certified Mortgage Planning Specialist
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