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Updated almost 9 years ago,

User Stats

81
Posts
15
Votes
Don Chambers
  • Investor
  • Warner Robins, GA
15
Votes |
81
Posts

bundling loan

Don Chambers
  • Investor
  • Warner Robins, GA
Posted

I would like to refi 14 loans on rental properties into a single loan.  Does anyone know a good source for this?  I am not looking for cash-out and I am prefer a 10 year amortization.

A local bank has agreed to do with a 6.25% apr.

The total borrowed would be $535,000 and the value is $941,000 according to zillow and $840,000 by the tax site.

I am looking for a better rate, or somewhere that can be more creative on the appraisals.  I don't want to pay for 14 appraisals - that's 10% of the total.

My goal is to simplify bookeeping.  I have a total of 18 mortgagse on rentals and it's a pain doing all the bookeeping for the loans.  I am not refiing all of them, 3 have a partner and 1 is a 30-yr fixed conventional.  I have 3 paid for and would add the as additional collateral if I could get a great rate.