Financing in Philadelphia>Question Details

Rar122, Both Buyer and Seller in Philadelphia, PA

I currently have 5 mortgages. (1 primary home and 4 investment properties). I need to find a lender that will lend up to 10. Do u guys know of any?

Asked by Rar122, Philadelphia, PA Fri Apr 12, 2013

Fannie Mae/Freddie Mac regulations allow up to 11 mortgages (1 primary 10 investment properties). I cant seem to find a bank that is willing to do this, however.

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Answers

5
Our maximum is 10 mortgages. I am working with a client now who has exactly 10.

Wes Costello
AnnieMac Home Mortgage
215-690-1038
0 votes Thank Flag Link Fri May 17, 2013
Are you looking for fixed mortgage if so I have been to by several lenders that you are able to have 10 of these at any given time I would suggest using these on higher priced investment property that might have a longer pay back period. In my area I have found that small local lender tend to have some of the better products. With 20% to 25% down some lenders will do loans without an appraisals. Most lenders in my area will do 3,5,7,10 balloons and will amortize them for up to 25 years. I would say just spend a day calling some local lenders and seeing what they offer.
0 votes Thank Flag Link Sat Apr 13, 2013
Have you considered investing in an individual that is a builder looking to go back out in his own......who builds a beautiful finished product......he has everything needed......other than the credit needed to start......depending on price point......you are looking at a. 50-50 split........35k Each home after split....and with the market as well as it is in Dallas.....it would be an investment well spent!!! Questions? 4696674109
0 votes Thank Flag Link Sat Apr 13, 2013
I'm curious how Robin has ever seen a home he has built since it's been well over 5 years that he's done anything but work at bars and gyms (if that). How does he get so many high school to lie for him??? If you get references, check and double check them. It will be worth your time to thoroughly investigate this individual.
Flag Wed Oct 30, 2013
I'd be glad to help also.

email is tspitko@clg-llc.com or go to http://www.phillyfinance.com

All the best!
0 votes Thank Flag Link Sat Apr 13, 2013
Hello,

Yes, we should be able to help you out. You can call or email me so we can talk more about it. 215-874-0125 or Paul.Carson@guaranteedrate.com or http://www.PaulCarson.com.

Sincerely,
Paul
0 votes Thank Flag Link Sat Apr 13, 2013
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