Many investors are not able to take advantage of this great rental investment market. The reason is an arbitrary new rule that many banks have imposed. Most lenders are not making new loans to borrowers that have 4 mortgages over their whole portfolio. Heck, I have some clients with 40+ mortgages. All of those loans were taken out before this credit clamp down. We have researched and have found a good lender who is willing to lend with no limit on the number of loans. Yes, they are strict as to cash flow, debt to income, FICO, etc. And for a strong investor, this lender is ready to step up.
The interest rates would be about 5.5% full adjusted. Please call or email me and I can set you up with our great loan broker who has access to this lender.
Wednesday, December 24, 2008
Beautiful Willow Glen Home
Beautiful 4 bedroom, 2.5 bath Willowglen home, with open floor plan, nice size kitchen with center island, great for entertaining. Cozy family room with fireplace. Private backyard, and great neighborhood. List price $749,000.
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