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Updated almost 16 years ago on . Most recent reply

User Stats

126
Posts
55
Votes
Ryan ODonnell
  • Flipper/Rehabber
  • Westchester, IL
55
Votes |
126
Posts

Help with Blanket Loans on multiple SFH's

Ryan ODonnell
  • Flipper/Rehabber
  • Westchester, IL
Posted

I'm hoping someone here has done a blanket loan on multiple SFH's. They are telling me that they can possibly do a release clause, but is there anything else I should be wary of?
At 7.25% over 25 years they seem to cash flow fine. I just used those numbers because with a 740 credit score I would think I could do better right now. LTV would be somewhere around 69%.
My situation seems unique because separately I don't qualify for loans (they're in my company name, company has only been in its first year, seasoning, etc.), but with commercial loans isn't it all about the properties and the cash flow?

Any advice would be great...

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