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Updated over 8 years ago,

User Stats

131
Posts
130
Votes
Rich Vogel
  • Rental Property Investor
  • Milltown, NJ
130
Votes |
131
Posts

Does a HELCO count as mortgage

Rich Vogel
  • Rental Property Investor
  • Milltown, NJ
Posted

I am in the process of getting a prequalification letter to purchase a rental property. My mortgage broker is saying she has to wait for underwriting to get back to her cause she thinks that the HELCO will count as a mortgage. If she counts the HELCO  and the new loan my partner will be at 5. Her company only allows 4 mortgages so she thinks it will be a problem. Has anyone run into this problem.  Any help is greatly appreciated.

Thanks

Rich

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