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Updated about 4 years ago on . Most recent reply

User Stats

71
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12
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Aviv Berkovitch
  • New York City, NY
12
Votes |
71
Posts

10 conventional mortgages to one commercial loan

Aviv Berkovitch
  • New York City, NY
Posted

Hi all,

When my wife and I will reach our 10 conventional mortgages limitation.

Can we take a blanket commercial loan for all of the 10 properties, pay/close the conventional mortgages with the bank and repeat the process? (Take new conventional mortgages).

Thanks in advance,

Aviv

Most Popular Reply

User Stats

990
Posts
470
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Timothy Hero
Pro Member
  • Lender
  • United States
470
Votes |
990
Posts
Timothy Hero
Pro Member
  • Lender
  • United States
Replied

I'm a commercial broker and yes, that'll work. When you get the loans with a commercial lender, they do not appear on your credit. Therefor, you're "freeing" up space.

  • Timothy Hero
  • [email protected]
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