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Private Lending & Conventional Mortgage Advice
HomeForumsPrivate Lending & Conventional Mortgage AdviceDoes a HELCO count as mortgage
Rich Vogel's profile image
Rich Vogel's profile image
Rich Vogel
  • Rental Property Investor
  • from Milltown, NJ
  • Member since Oct 31, 2014
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Rich Vogel's profile image
Rich Vogel's profile image
Rich Vogel
  • Rental Property Investor
  • from Milltown, NJ
  • Member since Oct 31, 2014
Connect
Rich Vogel
  • Rental Property Investor
  • Milltown, NJ
130
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131
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Private Lending & Conventional Mortgage Advice

Does a HELCO count as mortgage

Rich Vogel
  • Rental Property Investor
  • Milltown, NJ
Posted Apr 22 2016, 10:02

I am in the process of getting a prequalification letter to purchase a rental property. My mortgage broker is saying she has to wait for underwriting to get back to her cause she thinks that the HELCO will count as a mortgage. If she counts the HELCO  and the new loan my partner will be at 5. Her company only allows 4 mortgages so she thinks it will be a problem. Has anyone run into this problem.  Any help is greatly appreciated.

Thanks

Rich

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