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Can any one recommend a portfolio lender who will lend to an individual with four mortgages?

Profile picture for PExec
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November 02 2010 - Santa Maria
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Answers (10)

Profile picture for RPM Marin
PExec,

The bank for which I work, RPM Mortgage, can finance between 5 and 10 properties.  There may be other parameters that would necessitate you going with a portfolio lender, but feel free to get in contact if you think I can be of service.

Thank you.
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November 04 2010
Profile picture for Cecelia Marlow

You may want to try Flagstar.  They were still allowing more than 4 financed properties about a month ago :)

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November 03 2010
Profile picture for Coach Scarsella

Find a lender that participates in the Fannie Mae Multiple property program.  It allows you to have up to 10 financed properties. However if you are seeking a mortgage for a primary residence then most lenders will have no maximum number.

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November 03 2010
Profile picture for LUXURY HOME LOANS CA
We have lenders that go up to 4 financed properties, 5 to 10 financed properties and unlimited amount of properties. Unlimited amount of properties require a minimum loan amount of $300,000.
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November 03 2010
Profile picture for MonacoMortgage
Andrew gave you the correct answer.
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November 03 2010
Profile picture for Marvinloans

If you are at the 4 property limit then the next program you can possibly qualify for which is for investors is the 5-10 property limit program.  

Good luck 
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November 03 2010
Profile picture for loanmonarch
I don't think you will need a portfolio lender; however, there are numerous questions that come to mind.  Are the mortgages on four separate properties?  Second home or investment?  First and second combos?  Feel free to contact me via my profile to review your options.
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November 03 2010
Profile picture for 203K Specialist
Any Fannie Mae lender that does not have agency overlays will be able to help you.  You will need 6 Months PITI reserves for all properties but they can be done.
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November 03 2010
Profile picture for Shevy

Most lenders I've spoke to recently will only underwrite to Fannie and Freddie guidlines and will lend to an individual with four mortgages for primary but not for investment. I think that PExec, is probably looking for a lender that will lend on investments to those with 4+ mortgages. PExec, I only know of one, however, would also like to have a few other options. If you want, contact me direct and I will get you their contact info. Thx.

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November 02 2010
Profile picture for daveskow
Most lenders will be able to help you
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November 02 2010
 

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