Can I cash out refi two properties and have one loan ?

[Cham Vee]

Good evening,

I am cham. New investor from San Antonio, Tx. I own a duplex and triplex in San Antonio, TX and rehabbing them at the moment . Both properties have separate loans. 

My question would be, can i do a cash out refi on both the properties combined and have just one big loan that covers both the properties. If any one has done this before or knew any loan officer that could do it, your inputs are much appreciated. 

Thank you

Good luck every one ! 

[Bryan Noth]

@Cham Vee you can combine properties for a single loan but it will fall into either a portfolio loan or a commercial loan, which typically have higher interest rates, adjustable rates, or a balloon payment.  

Currently, conforming conventional loans (usually the best rate and terms with these) do not cover multiple properties at once.  

[Jay Hurst]

It will not likely be worth on two properties do a blanket loan as they can be more expense but you also can lose flexibility if you would like to sell one but not the other at some point. 

[Cham Vee]

@everyone:  Thank you very much for your valuable inputs.