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Updated almost 10 years ago on . Most recent reply

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14
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0
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Domin Car
  • Real Estate Investor
  • Wauconda, IL
0
Votes |
14
Posts

are there any lenders that will lend based on rental property history and performance?

Domin Car
  • Real Estate Investor
  • Wauconda, IL
Posted

Hi Everyone, 

I own 5 properties free and clear , they have been rented between 2 years and 9 moths , people pay on time , no issues. Personal credit is not that great. and properties are purchased under LLC. I heard that some banks will use rental income alone without using personal fico score. mine is around 600 , down due small 25 dollar payments missed.

I am looking for a lender that will do a mortgage in Illinois , I live in California , and properties are under LLC.

Each property worth about 80 K ,  looking to cash out or do a equity line,  I want to buy more properties with the money. 

help would be greatly appreciated .

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