Any south Florida credit unions that service mortgage themselves

[Weng L.]

I am approaching 10 financed properties and looking to buy another 8 properties within next 3 months. Fannie mae and freddie mac backed mortgages only allow a borrower to have up to 10 financed properties. Anyone knows any south Florida (Miami, Broward, Palm Beach) local credit union that holds and services mortgage themselves so they don't have the limit of 10 financed properties?

For example, using Fannie mae and freddie mac backed loans, today you can get a mortgage of:

Investment property

purchase price $400,000

25% down payment $100,000

30-year fixed rate

less than 3% interest

Any non-conventional loans that can get to as close to the numbers above as possible? (exclude commercial loans that are typically <= 20 years and >30% down and >4% interest)


 

[Jay Meola]

I drove by a bank on federal in Boca about a month ago called Anchor Bank.  They have only 3 locations across Palm Beach county.  Not sure if they package and sell there mortgages, but they may be worth looking into since they're not big.