| Author | Post |
|---|
MortgageHelp
Member
| Joined: | Sat Jul 22nd, 2006 |
| Location: | |
| Posts: | 15 |
| Status: |
Offline
|
|
Posted: Thu Aug 31st, 2006 01:01 pm |
|
If you ever need assistance, let me know by contacting MortgageHelp on this board.
Just make sure you have your lender fees negotiated as low as possible and never put anything under a business entity if you are financing or ever intend on refinancing a property.
Obvioulsy... title, taxes, ins are a given.
Try to do one at a time, unless you think you can sneak in all 5 at the same time to multiple lenders.
Goodluck.
|
Sifmole
Member
| Joined: | Tue Aug 29th, 2006 |
| Location: | |
| Posts: | 1 |
| Status: |
Offline
|
|
Posted: Wed Aug 30th, 2006 01:56 am |
|
MortgageHelp wrote: If each property is a separate single family dwelling, you cannot finance them all into one payment using a favorable conventional mortgage program.
For the best programs (ones that are not double digit interest rates) you need to finance each property individually.
Ask yourself - What's the beneift of having one payment? Less postage and checks?
You will always be better served now (and later on) to have them separate.
Better rates, higher Loan to Value (up to 100%, 90% for cash out), lower credit scoring requirements and much more.
The only reason I could think of to group them was if the closing costs for each one was a significant cost in relation to the mortgage.
|
MortgageHelp
Guest
| Joined: | |
| Location: | |
| Posts: | |
| Status: |
Offline
|
|
Posted: Mon Jul 17th, 2006 04:33 am |
|
If each property is a separate single family dwelling, you cannot finance them all into one payment using a favorable conventional mortgage program.
For the best programs (ones that are not double digit interest rates) you need to finance each property individually.
Ask yourself - What's the beneift of having one payment? Less postage and checks?
You will always be better served now (and later on) to have them separate.
Better rates, higher Loan to Value (up to 100%, 90% for cash out), lower credit scoring requirements and much more.
|
Big Tex
Member
| Joined: | Sat Jul 15th, 2006 |
| Location: | |
| Posts: | 1 |
| Status: |
Offline
|
|
Posted: Sat Jul 15th, 2006 03:30 pm |
|
| Can we finance all 5 homes into one payment? Do we have to do it as a business?
|
Current time is 12:08 pm | |
|
