I've heard of portfolio lenders and the value that they bring to an investor. My question is, can a portfolio lender combine/re-write loans for two different properties into one loan? If I had 2 single family houses that each have 100k mortgage on them, would a portfolio lender be able to consolidate and create one loan for 200k?
If so, is this beneificial to do or no?
@Greg Junge there are lenders out there that will do it, but like @Caleb Heimsoth replied, they usually have a minimum loan amount. As to if it's beneficial, that depends on your situation and why you are doing it. You would have one mortgage secured by two properties. What is the reason you are looking to do that?
@Greg Junge Yes, I have experience with these kinds of deals and we don't rewrite anything . We make a single loan that includes the whole amount owed on the other loans. Blanket deals don't have the greatest terms, but they can be done. 20yr am-5yr note
Thanks for the responses! @Dan Barli, honestly, I was just curious on how this process works, if and when I run into problems financing properties. I've read that after 4 properties, it gets tougher to finance properties, so just wanted to know my options.