Home Buying in 30310>Question Details

Mapiye, Home Buyer in 30312

Does anyone know of a lender that will finance Blanket loans within an LLC??? FannieMae limits properties to 4

Asked by Mapiye, 30312 Sun Oct 5, 2008

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This issue is becoming more common...Does anyone in the mortgage industry have an answer?

I have 6 mortgages in my personal name and want to buy more income producing property given the deals available. My thought was to start an LLC and buy properties through the LLC. But, I have heard recently that the LLC will not help me circumvent the 4 mortgage rule.

Does this mean I will have to use commerical loans in the LLC?
0 votes Thank Flag Link Tue Dec 16, 2008
Greetings,
I have an investor that has a similar problem. Obviously placing the mortgages in the LLC will free up your personal credit to acquire more property.

He had a very promising conversation with Branch Banking and Trust (BB&T). I do not have a direct contact but will be more than happy to forward your information to my client for a direct referral.

I did not get specifics regarding credit requirements for the company.

Feel free to leave your contact information with my office at (678) 731-8330.
0 votes Thank Flag Link Sat Oct 18, 2008
We would love to help, but obviously need more info. Give me a call to get all of the details.
0 votes Thank Flag Link Mon Oct 6, 2008
What exactly are you trying to do?

I know a few local lenders who would love to do business with a substantial player.

Do you have a track record?

Overnight LLC with no track record? Welcome to the world of "put up or shut up" with downpayments that mean something.

You still looking in 30310?
0 votes Thank Flag Link Sun Oct 5, 2008
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