Wednesday, April 16, 2014

Multiple Financed Properties

Ever had a deal fall apart because your buyer wanted to buy an investment property, but they had more than 4 financed properties? We can do investment property loans for people who have up to 10 financed properties.  Here's what you need to know:
  • 25% down if the property is one unit
  • 30% down if the property is 2-4 units
  • Minimum 720 credit score
If the buyer has less than 4 financed properties and wants to buy an investment property, then they only need 15% down and a 620 credit score.  They need 20% down if they want to avoid mortgage insurance.

Does your lender sell directly to Fannie Mae like we do, or do they have additional underwriting guidelines that prevent loans from being approved? 

Have questions about anything related to a mortgage?  Give us a call and see why they call us The Mortgage Experts.  

Getting a loan approved is easy - if you know what to do.  The Mortgage Experts know what to do!!!  Call us if you want to use the best lenders in Colorado!  

Make sure you check out our web site:

By the way, don't forget to refinance your current mortgage.  Rates are very, very low right now.  Don't miss out!  Call us today to get the details for your particular situation.

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