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Blanket loans

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bravofunding Joined: 06 Apr 2010 Posts: 1 1.25 Dollars($)	Posted: Tue Apr 06, 2010 12:16 pm    Post subject: Blanket loans Like 0 Dislike 0 I need a lender or portfolio lender to do 3+ investor homes at a time or more for the largest Rehab-er in Illinois. He buys and rehabs over 100 homes a year
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Tue Apr 06, 2010 8:01 pm    Post subject: Like 0 Dislike 0 Hi bravofunding, I guess it will be quite difficult for your client to get such loans. After the real estate crisis, lenders are not ready to give such loans. Does your client have equity in all those properties? The lender will also check out your client's financial situation - his income, employment history as well as his credit scores before approving him for a loan. If he does not have excellent credit scores and stable financial situation, it would be quite difficult for him to get a loan. Your client can contact Illinois based lenders in order to check out whether or not he stands a chance to get a loan. This community also has a large number of lenders. He can seek a no obligation free mortgage consultation from them in order to find whether or not he would get a loan. Thanks

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