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Updated almost 9 years ago,
bundling loan
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.