Any Lenders out there for multi-property investors (North Carolina) ?

Profile picture for Amer Jan
I am a small scale investor wanting to purchase my 5th investment property in Charlotte. The existing 4 investment properties and my owner-occupied residence in New York, all have mortgages. DTI, credit and reserves are not an issue. 

The issue is that most lenders are still adhering to the old Fannie Mae limit of 4 investment properties with loans. Are there any lenders who would lend to me. None of the major banks have expressed any interest.

Thank you





 
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January 21 - Charlotte
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Answers (3)

Profile picture for RussellMortgage

Up to 10 financed properties are allowed for a Fannie Mae purchase.  If you are purchasing a rental or second home, it is allowed.  This is a great program for investors that can prove their income and assets like you mentioned.  If you have other questions, let me know.

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February 01
Profile picture for Bryson City Broker
I feel your pain! While I am a Real Estate broker, I too have multiply properties and would like to buy more. Unfortunately, all the banks are held to the Frank-Dodd Bill and the Fannie&Freddi standards. This is where the government has decided how much we can own and they know best what is best for us! None of this mess will turn around until we repeal the Frank Dodd bill and get the government out of our lives and our pockets!
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February 01
Profile picture for siddonsj
Hey Amer Jan,
I have a lender that may be able to give you a loan through some of their programs.  Shoot me an email with some contact info and I'll see if they can work something out for you!
John
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January 22
 

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