Want advice on commerical loans for single family portfolio
I'm getting close to maxing out the (11?) loans that I am allowed on my personal credit. I continue to find single family and TH deals that I want to hold long term. I have an option with a local bank but they want 25% down (won't allow a bridge loan to brrrr my money out without a 6-12 mo seasoning period) the rates are much higher than freddie/fannie loans (5%), and I believe they will only do a 20 year amortization.
I'm not super familiar with portfolio loans but I assume that's when you package multiple SFHs and THs into one large loan? I am looking for advice or options to get either a portfolio loan or a type of commercial loan where I can take some of my properties off my personal credit to free up some spaces for new low interest loans. My current loans are around the 3.25-3.625% on my SFHs that are on my credit. I would be willing to sacrifice a little bit on paying a higher interest rate, but not 5%. I also need a 30 yr amortization. Even though my properties cash flow, I have pulled out most of my cash so a 20 yr am wouldn't be ideal.
I've also considered adding my wife to my business and showing the income to her so that she could get 11 loans. Any advice on any of this would be much appreciated!
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@Troy Bailey I have used LimaOne, Finance of America and local banks in the areas we invest. Those are places you can start. DM me if you have other questions. I also have access to other options if those don't workout for you.