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Experience with SFH blanket loan?
Hi BP community, I wonder if anyone has experience with https://www.velocitymortgage.c... or https://www.foacommercial.com. I'm planning to take a blanket loan for my single family investment properties. I have 3 properties that free and clear, but I'd like to get a little bit leverage. I'm planning to bundle each property with a new purchase to do a blanket loan of 2 properties @ LTV of 50%. In this way, I only need one transaction for each purchase, comparing to refinance and then purchase with finance. 50% LTV is where I can get 1.2 debt service coverage ratio.
any suggestions are welcome. Thank you.