Commercial loan on a portfolio of houses in GA

[Chukwudi Motanya]

Hi all,

Is it possible to get a commercial loan on a portfolio of single family houses? That way I would not have to deal with 10 different mortgages? Or would this be classified as a residential loan due to the types of properties I would be purchasing?

I'm looking at a deal in Atlanta, GA and I am trying to see if this option would be possible?

Best,

Chudi

[Sasha Mohammed]

@Chukwudi Motanya if you have the ability to go fannie/freddie for your investments, you'll definitely get better interest rates and less (or sometimes no) fees. fannie/freddie cap out at 10 financed properties, though, and they will qualify you based on income and ability to repay. still, this is the best option for your first 10 if you have the income on-paper, but yes, you would be paying on 10 different mortgages one at a time. 

Additionally, for purchases, it's possible to do portfolio, but it is difficult as you're working with 5+ different sellers at one time to secure one loan. It may make more sense (so you don't lose deals) is to refi INTO a portfolio loan once you've acquired the properties and once they've stabilized. 

Happy house hunting!