Looking for 30 year fixed rate on my properties

[Kyle Davis]

To BP Members-

I've tried to go through my local bank where my properties are at to refinance all my rental properties (9 properties in total) and get them on a 30 year fixed rate.

I was turned down, though, not because they value or LTV ratio wasn't good, but since I owned over 4 rental properties, it was an automatic rejection? This is a Federal Home Loan Bank (secondary market) guideline I guess?

I've asked other local banks in the area if they offer that product, and nobody does at least in this area.  

What banks have you guys gone with to get long term, fixed rate financing?  Also...how was the process and was the closing costs astronomical?

Thanks!

Kyle