All Forum Posts by: Robert Clabeaux

We are looking to refinance three of our rental properties. Two of them are new construction single family homes in North Carolina (Lincolnton, NC & Statesville, NC) and the third one is a renovated single family home in Pennsylvania (Natrona Heights, PA). All are performing.

Couple Questions:

1. Does it matter if the properties are in different states?

2. Can anyone recommend a lender who would do this?

3. Any chance we could throw a parcel of undeveloped land (Dallas, NC) in on the refi as well?

What's the reason you would prefer to do one loan instead of bundling maybe the NC properties together and a single asset loan in PA? The other posters have covered it well, generally it should be "possible" but not really a great option because of the different laws in each state make squeezing it into one doc set a pain and hassle

After learning about the different laws, specifically in PA, it seems we wouldn't be able to do them all together after all. So that seems to be the plan now, 2 together in NC and 1 in PA by itself. We currently have a quote at 7.25%, 30yr, no points, 75% LTV. Not sure we're gonna get better than that. We'll probably sell these in a year or two so buying down the rate wouldn't make sense either.

whats the prepay on that? Seems like a solid quote for sure

$0 on the PA one. Not sure on the NC just yet

I would double check the pre-pay, unless you are maybe using conventional lending??? You won't get a loan with that low of a rate without a pre-pay penalty using DSCR.

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Charlotte, North Carolina

Hey River!

Where is the property located exactly? Rural properties add another layer of complexity when you are trying to get funding. I am local BTW...Waxhaw, NC

0 Votes

Charlotte, North Carolina

All Forum Posts by: Robert Clabeaux

Robert Clabeaux has started 0 posts and replied 2 times.

Post: Can I get a Portfolio Loan for 3 SFR spread across two states?

Post: Looking for a lender!