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I have 5 loans on 5 investment properties. Is it possible o
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Upside down in CA

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PostPosted: Tue Nov 27, 2007 3:56 pm    Post subject: I have 5 loans on 5 investment properties. Is it possible o
FICO is 628. Mortgage payments are exceeding rents, lots of equity still.
 
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Icon Mini Profile kenstampe
kenstampe
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Joined: 22 Jan 2007

Posts: 146
Location: Dallas, TX


50.64 Dollars($)
PostPosted: Tue Nov 27, 2007 8:25 pm    Post subject:
advantageous? probably....

Possible? probably not....

Commercial financing is going to want to see that your properties cash flow and also a higher credit score generally speaking. If you are experiencing a net rental loss you need to either refinance or restructure your debt, increase your rents or sell some property.

good luck
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Ken Stampe is a Mortgage Loan Originator, Mortgage Author and Mortgage Loan Officer Instructor living in Dallas, TX. Contact by email at
 
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Icon Mini Profile Caron
Caron
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Joined: 19 Jul 2005

Posts: 1482
Location: florida


250.36 Dollars($)
PostPosted: Wed Nov 28, 2007 5:50 am    Post subject: RE: loans for investment properties
Hi Guest,

Welcome to our forums.

I agree with Ken here. Your credit score isn't that good for you to get approval for a commercial mortgage. But you can still give it a try.

Our community has a group of lenders offering loan related services to people having various loan requirements. So, if you are interested, just send us your request for mortgage quotes with the minimum details, so that we can forward it to our community lenders. And, if the lenders can match their profiles with your loan requiremnets, they shall contact you for the quotes asap.

Good luck
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