Good afternoon,
I am desperately seeking a lender in PA who will do 5 mortgages on 5 separate non-owner occupied properties for a customer who’s sole source of income is from the 42 properties that they own and we are looking at a no doc scenario. 700+ scores.
Loan sizes at about $35,000 at approximately 75 – 80% ltv. The purpose is to payoff a blanket mortgage which is on these properties.
Been turned down by many for several reasons including number of properties on the same street, number properties they own, number of properties held by the lender, how their income is derived from rental properties only…etc., etc., etc.,.
Interbay may do this. The rates are higher, but the loan will be
funded.