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Updated almost 6 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Pittsburgh, PA
55
Votes |
142
Posts

Are mortgages 5-10 substantialy harder than 1-4?

Account Closed
  • Rental Property Investor
  • Pittsburgh, PA
Posted

I have two properties now and I am planning to ramp up to about eight over the next three years. I was planning to have about 70% equity, 30% loan on each. I've recently read that after your fourth mortgage it is much more difficult to refinance. If this is the case, I'd rather pull more equity out of the first four. Does anyone have any experience trying to get loans 5 through 10?

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

30% loan to value will be super easy as long as the loans are over $50k. 

If you meant the opposite of what you said, 70% loan to equity that should still be no problem. Usually they will lend 75%. I encountered rates about .25-.5% higher because of “overlays” 

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