10 conventional mortgages to one commercial loan
Hi all,
When my wife and I will reach our 10 conventional mortgages limitation.
Can we take a blanket commercial loan for all of the 10 properties, pay/close the conventional mortgages with the bank and repeat the process? (Take new conventional mortgages).
Thanks in advance,
Aviv
Most Popular Reply
I'm a commercial broker and yes, that'll work. When you get the loans with a commercial lender, they do not appear on your credit. Therefor, you're "freeing" up space.